Australia

Australian shares are set to open higher, after US stocks recouped some of the previous day's losses.

ASX futures were up 0.3% or 23 points as of 8:30am on Friday, suggesting a higher open.

U.S. stocks finished higher on Thursday as Wall Street clawed back from a sharp selloff in the previous session that sent the S&P 500 to its biggest one-day decline since September, while investors awaited a fresh reading of the Fed's preferred inflation measure due out Friday morning.

The Dow Jones Industrial Average was up around 320 points, or 0.9%, to finish near 37,403, according to preliminary data from FactSet.The S&P 500 was 48 points higher, or 1%, to end around 4,746.The Nasdaq Composite advanced 185 points, or 1.3%, ending near 14,963.

In commodity markets, Brent crude oil fell 0.3% to US$79.44 a barrel while gold was up 0.7% to US$2,044.83.

In local bond markets, the yield on Australian 2 Year government bonds was down at 3.75% while the 10 Year yield was also down at 4.01%. US Treasury notes were mixed, with the 2 Year yield unchanged at 4.35% and the 10 Year yield up at 3.89%.

The Australian dollar hit 67.96 US cents up from the previous close of 67.29. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, was down at 96.29.

Asia

Chinese shares closed higher, rebounding from earlier losses. The benchmark Shanghai Composite Index closed 0.6% higher at 2918.71, back above the 2900 level. The beverage sector led gains, with Kweichow Moutai up 1.2% and Shanxi Xinghuacun Fen Wine Factory rising 2.75%. Semiconductor stocks also advanced, with LONGi Green Energy Technology up 4.9% and Will Semiconductor gaining 0.4%. Meanwhile, coal stocks led losses, with China Shenhua Energy dropping 0.8% and Huaibei Mining losing 1.0%. Investment bank stocks fell as well. Founder Securities dropped 2.7%, China Merchants Securities was down 1.0% and Haitong Securities lost 0.5%. The benchmark Shenzhen Composite Index closed 0.9% higher at 1801.50 and the ChiNext Price Index was up 1.65%.

Hong Kong shares closed flat as gains in the real estate and tech sectors offset losses in medical and electric-vehicle stocks. Market sentiment has started to cool down after recent rallies boosted by the Fed's dovish signals last week, IG market strategist Jun Rong Yeap said in an email. Hansoh Pharma led losses, dropping 11% after U.K. biopharma company GSK agreed to pay up to $1.7 billion for a licensing deal. Li Auto dropped 4.9% and Geely Automobile lost 0.6%. Meanwhile, Wharf Real Estate Investment Co. gained 4.0% and Hang Lung Properties rose 1.15%. Baidu and Meituan gained 1.45% and 1.1%, respectively. The benchmark Hang Seng Index closed flat at 16621.13 and the Hang Seng Tech Index was down 0.4%.

The Nikkei Stock Average fell 1.6% to close at 33140.47 on profit-taking, with automobile and banking stocks leading the declines. Automakers with a good run in recent sessions were among those that fell the most. Toyota Motor shed 4.0%. The company recalled 1 million vehicles from several Toyota and Lexus models in the U.S. over airbag-related sensors, adding to the stock's weakness. Nissan Motor and Honda Motor fell nearly 3% each. Among banking stocks, SMFG lost 0.7%, while Mizuho Financial and Nomura Holdings shed 1.1% and 1.6%, respectively. USD/JPY was 0.4% lower at 143.00.

Indian shares reversed early losses to close higher, tracking gains in U.S. stock futures. Bank and utility stocks led the rebound ahead of a slew of key U.S. economic data due later in the day and Friday. NHPC advanced 5.1% and JSW Energy jumped 3.0%. HDFC Bank climbed 1.8% and Kotak Mahindra Bank was 1.7% higher. Automakers weighed on the market, with Maruti Suzuki down 0.5% and Mahindra & Mahindra off by 0.8%. Bajaj Finance was the benchmark index's worst performer, falling 1.6%. India's Sensex ended 0.5% higher at 70865.10.

Europe

European stocks closed lower with the FTSE 100 down 0.3% to 7695 points after weaker-than-forecast U.K. retail sales data. "Worse than expected U.K. retail sales put a dampener on the FTSE 100's advance after three straight days of gains," IG analysts say in a note. "While they are back trading close to their recent record highs, European equity indices see a session in the red," they say. The Stoxx Europe 600, Germany's Dax and France's CAC 40 each fell 0.3%.

The FTSE 100 closed Thursday down 0.3% to 7695 points following three straight days in positive terrain, but in line with European peers, mainly dragged by oil-exposed heavyweights. Luxury retailer Burberry was the blue-chip index's worst performer, with shares down 4.2% on the back of worse-than-expected U.K. retail sales, IG Senior Market Analyst Axel Rudolph said in a note. Ocado shares slipped 4.0%, followed by Airtel Africa, down 1.6%. Vodafone shares closed up 2.25%, leading the index after reports that Swisscom is considering a bid for its Italian business.

North America

U.S. stocks finished higher on Thursday as Wall Street clawed back from a sharp selloff in the previous session that sent the S&P 500 to its biggest one-day decline since September, while investors awaited a fresh reading of the Fed's preferred inflation measure due out Friday morning.

The Dow Jones Industrial Average was up around 320 points, or 0.9%, to finish near 37,403, according to preliminary data from FactSet.The S&P 500 was 48 points higher, or 1%, to end around 4,746.The Nasdaq Composite advanced 185 points, or 1.3%, ending near 14,963.