Japan's core inflation in September slowed below the 3% threshold for the first time in over a year but stayed above the central bank target, keeping alive expectations that policymakers will phase out ultra-easy monetary policy.

The U.S. 10-year Treasury yield briefly reached 5% for the first time since 2007, marking a fresh milestone in a relentless push higher for government borrowing costs.

The number of Americans filing new claims for unemployment benefits fell to a nine-month low last week, indicating that strong job growth persisted in October as the labor market remains tight.

Economic growth was little changed over the past month and signs of labor market tightness continued to ease, though services inflation remains on the up, and up, according to the Federal Reserve's Beige Book released Wednesday.

Asian stocks extended steep losses on Friday as a rout in global bond markets continued to decimate risk appetite, while traders remained on edge over any more escalation in the Israel-Hamas war. 

Oil prices rose sharply in Asian trade on Friday, extending a strong run of gains after the U.S. government outlined plans to begin refiling the country’s strategic oil reserve, while concerns over supply disruptions in the Middle East also lent support.