Asian shares snapped two days of losses on Friday, climbing as investors waited to see whether US jobs data due later in the day would reinforce the need for faster US interest rate hikes.

The Indonesian coal benchmark price was set at US$158.50 per ton for January, down 0.81 percent from a month earlier, as China started ramping up production.

Asian shares fell on Thursday, extending a global slump after Federal Reserve meeting minutes pointed to a faster-than-expected rise in US interest rates due to concerns about persistent inflation.

US Treasury yields surged on rising bets for a Federal Reserve rate hike by March.

Markets struggled in Asia on Wednesday following a tepid lead from Wall Street, with inflation and expected interest rate hikes returning to the key focus of concerns as Omicron fears fade for now.

The government insists the move is needed to safeguard domestic power supply and says it is "quite comfortable with the risks" it faces.

The US dollar reached its strongest level in more than a month against the Japanese yen on Tuesday, lifted by a jump in Treasury yields overnight as traders bet on an early Federal Reserve interest rate hike despite surging COVID-19 cases.

The new year got off to a mixed start on Monday in holiday-thinned Asian trade, following a healthy run-up at the end of last week, with some cheer provided by data suggesting regional economies improved last month.

Stock markets dipped on Friday in thin trading but were set to see in the New Year with double-digit gains for 2021, while oil prices retreated from $80 a barrel following their biggest annual rise since 2009.

Shares in Hong Kong opened with strong gains thanks to surging Chinese tech stocks on Friday, a day when many Asian bourses -- including Indonesia's -- were closed for public holidays. 

The COVID-19 pandemic and the continuing growth of the digital economy helped the local bourse break new ground.

The most spectacular surge was that of Europe's reference gas price, Dutch TTF, which hit 187.78 euros per megawatt hour in December -- 10 times higher compared with the start of the year.

With coronavirus cases hitting record highs, many countries are trying to limit the economic damage by relaxing rules on isolation rather than resorting to lockdowns.

Asian stocks slipped on Wednesday, following a mixed Wall Street session as the region's investors positioned their portfolios for the new year and continued to grapple with increasing global numbers of Omicron coronavirus cases.

The IDXTECHNO subindex of technology companies saw the strongest gains, and a tech company delivered the biggest IPO ever on Indonesia’s bourse.

As the worst fears of the Omicron's impact have subsided, investors have been returning to risk assets.

The Indonesia Stock Exchange (IDX), in collaboration with the Indonesian Biodiversity Conservation Trust Fund (Kehati) Foundation, has launched two indexes based on environmental, social and governance (ESG) scores to cater to increasing demand for responsible investment products.

US consumer confidence further improved in December, and the White House was resuming talks on a massive social spending and climate change bill.

Equities stabilized and oil prices saw a much-needed gain Tuesday after their latest flop as bargain-buyers moved in, though investors remain fixated on the fast-spreading Omicron variant and moves to contain it over the festive period.

Asian share markets fell and oil prices slid on Monday as surging Omicron cases triggered tighter restrictions in Europe and threatened to drag on the global economy into the new year.

With inflation expected to remain high for some time, the US central bank is likely to raise interest rates soon after it ends its bond-buying program in March, a Federal Reserve board member said Friday.

Asian equities mostly fell Friday, pulling back from the previous day's rally as traders consider central bank plans to combat soaring inflation by ending the era of ultra-cheap cash, while also navigating a COVID-19 infection spike that threatens an already fragile economic recovery.

Most Asian markets rose Thursday and the dollar held gains after the Federal Reserve laid out a more hawkish path by speeding up the taper of its pandemic financial support and indicated a number of interest rate hikes over the coming years.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.46 percent.

The Fed is widely expected to signal a faster tapering of asset buying this week, and thus an earlier start to rate hikes

The dollar was firm on Friday ahead of US inflation figures, which could settle the course of interest rates, while the Chinese yuan was nursing its sharpest drop in months after a nudge lower from authorities triggered a slide.

Asian stocks opened higher on Tuesday as investors took heart from strong rebounds on Wall Street on hopes that the newest coronavirus variant will prove less dangerous than previously feared.

While analysts warn of lower crude palm oil (CPO) prices next year, producers remain hopeful at least for the first half of 2022.

Asian markets broadly fell in morning trading Monday, tracking uncertainty over the Omicron variant of COVID-19 as well as disappointing US jobs data and the future of Chinese tech firms on Wall Street.

Preventing speculation and excessive increases in property and land prices is crucial for development of the new capital city, experts say.