The dollar weakened and gold prices surged as fresh signs of U.S. labor market weakness spurred hopes for more rate cuts.
Oil eased after a rally in the previous session but was on course for a second straight weekly gain on concerns about crude oil supply disruptions stemming from tensions in West Asia.
China's Shanghai Composite index fell 2.55 percent to 3,217.74 as investors awaited the details of the upcoming fiscal stimulus plans this weekend. Hong Kong markets remained closed on account of the Chung Yeung festival.
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