Oil prices rose marginally in Asian trade on Friday, and were set for a muted weekly performance amid growing concerns over slowing U.S. demand and a supply glut in the coming quarters.
Most Asian stock markets advanced on Thursday, with Japan rallying to a fresh record high after the U.S. Federal Reserve reduced interest rates and signaled further cuts.
China's new energy vehicle (NEV) retail sales rebounded last week, reversing the decline seen in the first week of September.
The Federal Reserve, goaded by the risk of rising unemployment, reduced interest rates on Wednesday for the first time since December and indicated more cuts would follow to halt any slide in a labor market already experiencing higher joblessness among Blacks, a declining workweek, and other signs of weakness.
Oil prices declined for a second session on Thursday, after the Federal Reserve cut interest rates as expected and traders focused on concerns about the U.S. economy and excess supplies.
The Thai government will work with the central bank to manage the baht currency after it rose to its strongest levels in four years, and will monitor capital inflows and gold trading for any irregularities, the incoming finance minister said on Thursday.