Japan's wholesale prices rose 9.1% in October from a year earlier, slowing from the previous month's record gain but remaining at high levels as the weak yen continued to inflate the cost of raw material imports for companies.

Malaysia's economy grew at its fastest pace in over a year in the third quarter, outpacing the growth rate in many of its Southeast Asian peers, but the central bank said the outlook was clouded by the risk of a global slowdown.

Japan's core consumer inflation rate is expected to hit a forty-year high in October as a weak yen pushed up raw material costs for companies, leaving some with little option but to pass those on to households by hiking prices, a Reuters poll showed.

Asian shares scaled a seven-week high on Friday, while the dollar wobbled after cooler-than-expected U.S. inflation data sparked hopes that the Federal Reserve could tone down its aggressive interest rate hikes.

 The dollar languished on Friday after a sharp sell-off overnight when U.S. inflation data came in cooler than expected, raising market hopes of a peak in consumer prices that could temper the Federal Reserve's aggressive monetary tightening campaign.

Britain's economy shrank by 0.2% in the three months to September, according to official data which is expected to represent the start a lengthy recession.