Thailand's economic growth is expected at 2.5% this year before accelerating to 3.2% in 2024, supported by a recovery in tourism, exports and sustained private consumption, the World Bank said on Thursday.

Japan's factory activity shrank for a seventh straight month in December while the service sector made modest gains, a business survey showed on Friday, as weak demand and price pressures capped growth.

Chinese industrial production grew more than expected in November, indicating that manufacturing output remained steady even as local and overseas demand continued to trend lower. 

China's industrial output grew 6.6% in November year-on-year, faster than the 4.6% gain in October, and retail sales rose but missed forecasts, adding to signs Beijing's recent flurry of stimulus is helping stabilise the economy.

Bankers in Asian equity capital markets are hopeful of a better year in 2024 after a dismal showing for IPOs this year, noting that interest rates have stabilised globally but they add that elections across the region and in the U.S. could crimp demand.

General Motors said on Thursday it is laying off 1,300 workers at two Michigan auto factories in early January.