Asian shares gained on Friday after China markets opened following a five-day Lunar New Year break, but caution remained ahead of the U.S. jobs report due later in the day.
Japan's Nikkei share average rose 0.6 percent while South Korea's KOSPI index gained 0.2 percent.
Investors are turning their attention to Friday's jobs report to assess the pace of improvement in the U.S. labour market after fewer Americans filed for unemployment benefits last week.
Jobless claims fell by 14,000 to 246,000 in the week ended January 28, marking 100 straight weeks of claims below 300,000. That's the longest streak since 1970 and indicates a healthy job market.
But the data did little to cheer investors on Wall Street, which ended flat on Thursday as President Donald Trump's immigration curbs and concerns about the trade deals with other countries raised fears of further protectionist policies.
Trump's Policy Conundrum
President Donald Trump's latest comments on trade and policies have left global investors in a tizzy.
Markets had run up sharply following Trump's Nov. 8 election win amid hopes of tax cuts and a fiscal stimulus. This week, Trump hit out at some of America's closest friends, blasting a “dumb” refugee resettlement deal with Australia.
He further reiterated his concerns about the trade deal with Canada and Mexico and said he would like to speed up talks to either renegotiate or replace it.
Jobs Report In Focus
Investors will now be keeping one eye on Friday's jobs report and another on the narrative from the White House for signs of pro-growth policies.
Friday's report is projected to show a steadily improving labor market, according to economists' estimates by Bloomberg.
With both hiring and unemployment likely to remain relatively stable, the focus on the jobs report will center on wage pressures.
Employers probably added 175,000 workers to payrolls in January, an improvement from December, while average hourly wages probably rose 2.8 percent from a year earlier, compared with the 2.5 percent rise in January 2016, Bloomberg data showed.
Oil Near $54
Oil prices were headed for a third weekly gain amid estimates that the OPEC reached about 60 percent of its output-cut target, easing concerns over a global supply glut.
The Organization of Petroleum Exporting Countries (OPEC) cut output by 840,000 barrels a day last month, according to a Bloomberg survey of analysts, oil companies and ship-tracking data.
West Texas Intermediate for March delivery gained as much as 41cents to $53.95 a barrel in New York.
Positive Start?
The SGX Nifty Index gained 0.17 percent to 8,749 as of 06:32 a.m., indicating a positive start to Indian equities.
Indian shares closed higher for a second straight session, with the broader Nifty index closing up 0.2 percent at 8,734 as investors cheered fiscally prudent budget by the government.
Shares of Glenmark Pharmaceuticals will be in focus today after the company posted a 143 percent surge in December-quarter net profit.
Companies such as JK Lakshmi Cement, Indian Hotels, ACC and MRF are scheduled to post their quarterly results later in the day.
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