Asian stocks rose on Friday as a plan for Presidents Donald Trump and Xi Jinping to meet eased nerves around a trade war. Oil prices fell ahead of US inflation data.
The number of Americans filing new applications for jobless benefits increased last week, economists estimated on Thursday, and more people were collecting unemployment checks in early October amid easing labor market conditions.
Oil prices dipped in early trade on Friday, trimming part of the previous day's surge but remaining on track for a weekly gain, as fresh US sanctions on Russia's two biggest oil companies over the war in Ukraine fuelled supply concerns.
British inflation unexpectedly held steady in September, raising the prospect of a Bank of England interest rate cut this year and offering some relief to finance minister Rachel Reeves ahead of her budget in November.
The Bank of Japan is likely to raise interest rates as soon as December as expansionary fiscal policy expected under new Prime Minister Sanae Takaichi will help the economy weather the hit from U.S. tariffs, former BOJ executive Eiji Maeda said.
Asian stocks fell for a second day on Thursday as lacklustre earnings from tech megacaps deepened a selloff on Wall Street, while U.S. sanctions against Russia and possible new export controls on China revived geopolitical worries.