Indian shares are likely to open on a muted note Friday, mirroring tepid cues from global markets.

The Thai stock market bounced higher again on Thursday, one day after ending the three-day winning streak in which it had improved 7 points or 0.5 percent. The Stock Exchange of Thailand now sits just above the 1,375-point plateau although it's looking at a soft start on Friday.

The Japanese stock market is notably lower on Friday, snapping a five-session winning streak, following the broadly negative cues from global markets overnight. The benchmark Nikkei 225 is falling below the 38,800 level, with weakness in index heavyweights and technology stocks partially offset by gains in financial stocks.

The Indonesia stock market has moved higher in two straight sessions, gathering more than 160 points or 2.3 percent along the way. The Jakarta Composite Index now sits just beneath the 7,250-point plateau although it may run out of steam on Friday.

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.

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.