Giving up some of the gains in the previous two sessions, the Australian stock market is notably lower on Friday, following the broadly negative cues from global markets overnight. The benchmark S&P/ASX 200 is staying below the 7,900 level, with losses across most sectors led by gold miners and technology stocks. Iron ore miners are up amid firmer iron ore prices.

The Hong Kong stock market bounced higher again on Thursday, one session after ending the three-day winning streak in which it had rallied almost 800 points or 4.4 percent. The Hang Seng Index now sits just above the 19,375-point plateau although it's likely to open under water on Friday.

The China stock market on Thursday snapped the three-day losing streak in which it had slumped almost 35 points or 1.1 percent. The Shanghai Composite Index now sits just above the 3,120-point plateau although it's likely to open in the red again on Friday.

The Taiwan stock market has tracked higher in five straight sessions, advancing more than 750 points or 3.8 percent along the way. The Taiwan Stock Exchange now sits just above the 21,300-point plateau although investors figure to lock in gains on Friday.

The Singapore stock market rebounded on Thursday, one day after snapping the four-day winning streak in which it had advanced almost 50 points or 1.5 percent. The Straits Times Index now rests just beneath the 3,305-point plateau although it may head south again on Friday.

On Thursday, the yen strengthened against the US dollar in response to improving Federal Reserve interest rate prospects. The USDJPY pair has declined to 153.88.

US inflation resumes downtrend, retail sales stagnate - Dollar falls as investors add to Fed rate cut bets - Yen gains even as Japanese economy contracts - Wall Street at fresh records, gold rallies on US data

US inflation resumes downtrend, retail sales stagnate - Dollar falls as investors add to Fed rate cut bets - Yen gains even as Japanese economy contracts - Wall Street at fresh records, gold rallies on US data

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto market shakes off consolidation

The euro rose 0.6% against the dollar, while the dollar-yen pair fell by 1% and the gold-dollar pair surged 1.2%. Nike's shares declined by 0.7%. Lower US inflation sparked hopes for an early Fed rate cut, boosting the S&P 500 and NASDAQ. Key economic events today include industrial production and unemployment data from the US, Australia, Japan, Italy, and the Netherlands.