In Hong Kong, Asian shares showed a mixed performance on Friday following a retreat in Wall Street amidst uncertainties related to U.S. President Donald Trump.
U.S. futures remained largely stable with a slight improvement in oil prices.
Chinese markets experienced a second consecutive decline, with Hong Kong's Hang Seng dropping by 2% to 23,733.02 after China opted to keep its key lending rates steady. Traders have been selling off technology stocks after recent gains.
The Shanghai Composite index also saw a decrease of 0.9% to 3,376.96.
Meanwhile, in Tokyo, the Nikkei 225 rose by 0.5% to 37,933.13 as markets reopened after a holiday on Thursday. Japan recorded that its core inflation rate decreased less than expected, partly driven by a surge in rice prices due to a supply shortage.
Across Asia, Korea's Kospi gained 0.1% to 2,643.59, and Australia's S&P/ASX 200 increased by 0.4% to 7,947.30.
Thailand's SET index rose by 0.5%, while the Taiex in Taiwan fell by 0.4%.
On Wall Street the previous day, the S&P 500 dropped by 0.2% to 5,662.89, the Dow Jones Industrial Average slipped by less than 0.1% to 41,953.32, and the Nasdaq composite fell by 0.3% to 17,691.63.
Amid concerns over Trump's trade policies affecting the economy, the stock market has been experiencing fluctuations. However, Federal Reserve Chair Jerome Powell indicated that the economy is currently robust enough to maintain interest rates.
Recent data further supported this positive outlook, with reports showing lower-than-expected filings for unemployment benefits, stronger home sales figures, and promising manufacturing growth in the mid-Atlantic region.
Due to high levels of uncertainty, particularly around the trade war and government spending cuts led by Elon Musk, the stock market experienced a sharp drop after rising rapidly. This correction was deemed necessary as stock prices had outpaced corporate profits, potentially making them overvalued.
In Thursday's trading, Darden Restaurants saw a 5.8% increase following profit results in line with analyst predictions, despite operating in a challenging environment. Contrastingly, Accenture reported slightly better profit and revenue figures than expected. Concerns arose over the potential impact of reduced U.S. government revenue on Accenture, as the federal government accounted for 17% of its North American revenue last fiscal year, leading to a 7.3% decline in its stock price.