Most Asian share markets were subdued on Friday and the dollar held onto its gains from safe-haven flows, after soft economic data from U.S. and China magnified concerns of a global slowdown, although Japanese stocks outperformed.

Oil prices fell further on Friday after wiping out all of their gains for the week, as disappointing economic signals from China and concerns over a potential U.S. recession cast doubts over crude demand this year.

The U.S. dollar was clinging close to a more than one week peak on Friday as a slew of data overnight pointed to a slowing U.S. economy, with investors betting that the Federal Reserve will further pause its interest rate increases.

Japan's economy likely grew in January-March at the fastest pace in three quarters, as spending in the services sector offset soft business activity, a Reuters poll showed.

The Bank of England (BoE) is poised to raise borrowing costs for the 12th meeting in a row on Thursday, as it tries to tackle stubbornly high inflation that stands at double the level of the United States and much higher than in the euro zone too.

British Prime Minister Rishi Sunak risks missing his goal of halving inflation this year as underlying inflation shows little sign of having peaked in Britain or abroad, according to new economic forecasts published by a think-tank on Thursday.