The week is packed with major US economic data including a payrolls report that could decide whether the Federal Reserve delivers another outsized rate cut in November
China's central bank surprised many by lowering its 14-day repo rate by 10 basis points
With more easing to come, investors are wagering on continued US economic growth
Extended holidays in China and South Korea made for thin trading conditions
Oil prices were steady in early trading after dropping in the previous sessions on weak demand and supply woes
The dollar was hanging on to gains made on Friday after upbeat spending figures led markets to trim the chance of a half-point easing from the Federal Reserve
Solid growth and resilience in the world's largest economy trumped investors' disappointment on Nvidia's underwhelming results
Investors now await US weekly jobless claims, which have gained prominence
Gold prices were just shy of a record peak, while the dollar firmed and the yen hovered near its highest
US stock futures similarly rose, with S&P 500 futures last up 0.02 per cent while Nasdaq futures advanced 0.12 per cent
Fed chair Jerome Powell speaks in Jackson Hole and investors assume he will acknowledge the case for a cut
Japan's Nikkei rose another 1.7 per cent on Friday, tracking a strong rebound on Wall Street overnight
Nikkei futures were trading at 33,640, suggesting the cash market could open around 2,000 points higher
Japan's Nikkei, tumbled 3 per cent as the strengthening yen clouded the outlook for the country's exporters
Focus will be on whether the BOJ will raise rates, with several Japanese media reporting that the bank would consider raising rates
Regional stocks took their cues from Wall Street, where the S&P 500 and tech-heavy Nasdaq slipped further after Wednesday's frenetic selling
The US dollar was broadly firm, with traders watching out for an inflation reading on Friday and Federal Reserve meeting next week
Investors seemed well-prepared for news that US President Joe Biden had dropped out of the election race and endorsed Vice President Kamala Harris for the Democratic ticket
Moves in the yen against the dollar and other major currencies stole the spotlight on Friday
Chinese blue chips edged up 0.1%, while Hong Kong's Hang Seng index was flat