Oil prices rose on Friday amid prospects of a less aggressive U.S. rate hike, although worries about a recovery in demand capped gains.

China's economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a darkening global outlook.

China's central bank stood pat on its medium-term policy rate for a sixth straight month on Friday, as expected, with investors believing that the bank intends to gradually normalise monetary policy after the easing made during COVID lockdowns.

 Indonesian Finance Minister Sri Mulyani Indrawati said on Friday failure by G20 finance chiefs meeting in Bali to reach consensus could be catastrophic for low-income countries amid soaring food and energy prices exacerbated by the war in Ukraine.

Two of the Federal Reserve's most hawkish policymakers on Thursday said they favored another 75-basis-point interest rate increase at the U.S. central bank's policy meeting this month, not the bigger rate hike traders had raced to price in after a report Wednesday showed inflation was accelerating.

China has completed 59% of its annual target of new urban jobs, with 6.54 million such jobs created during the January to June period, the ministry of human resources said on Thursday.