A federal judge on Wednesday ordered the US government to begin paying refunds of President Donald Trump's emergency tariffs that the US Supreme Court deemed illegal in late February.

Oil prices erased early losses to trade flat in Asian trading on Friday, remaining on track for a sharp weekly surge as escalating conflict in the Middle East raised concerns over global supply disruptions.

Eurozone economic growth picked up pace in February, with the HCOB Eurozone Composite PMI Output Index rising to 51.9 from 51.3 in January, marking a three-month high.

China set its 2026 economic growth target at 4.5%-5% on Thursday, slightly lower than the 5% pace achieved last year, signalling room for greater, albeit not decisive, measures to address industrial overcapacity and rebalance the economy.

Asian stocks rose sharply on Thursday, with South Korea’s KOSPI rebounding from steep losses as a mix of bargain buying and positive cues from Wall Street aided regional markets. 

The U.S. services sector activity surged to more than a 3-1/2-year high in February as businesses rebuilt inventories in anticipation of strong demand, consistent with hopes for an acceleration in economic growth this quarter.