Oil prices rose by over $1 on Friday as reports that the U.S military struck Iranian targets in Syria raised concerns of a widening of the Israel-Hamas conflict that could impact supply from the key Middle East producing region.
The dollar was headed for a weekly gain on Friday, aided by solid U.S. growth figures that bolstered the case for higher-for-longer interest rates, while the yen hovered on the weaker side of 150 per dollar ahead of a key policy meeting next week.
Most Asian stocks fell sharply on Thursday with regional technology stocks tracking overnight declines in their U.S. peers, while a spike in bond yields and uncertainty over Japanese monetary policy saw the Nikkei lead losses.
The Ministry of Investment, Trade and Industry (Miti) expects foreign direct investment (FDI) from Japan to exceed US$30 billion (RM143.4 billion) this year, buoyed by continuous support from the Japanese companies.
The progressive wage policy is expected to involve minimal additional costs to employers, as the government intends to provide cash incentives to participating employers to offset the increased employee wage costs, the Ministry of Economy said.
South Korea's economy fared better than expected in the third quarter with the expansion underpinned by exports, backing the case for the central bank to keep rates on hold for the months ahead.