The cooling would come after Indonesian benchmark prices for nickel, aluminum and gold rose to all-time highs in April.

Asian shares tumbled to their lowest in nearly two years on Tuesday as investors shed riskier assets on worries about higher interest rates and their impact on economic growth, while the dollar held near 20-year highs.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent.

Asian shares tumbled on Friday while the US dollar and Treasury yields rose in a reversal of a day earlier after investors expressed concerns that rising interest rates could hurt global economic growth.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.52 percent, although trading was thin with Japanese and Korean markets closed for public holidays.

The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, while the yen is down almost 7 percent in April and the euro dropped through $1.05 for the first time in five years.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent on Friday.

Shares of some of Indonesia's leading palm oil plantation companies and the rupiah currency dropped on Thursday after the government shocked markets by making last-minute changes to an export ban to include crude palm oil and other refined products.

Share markets steadied on Thursday, taking comfort in technology earnings, though an energy crisis in Europe and China's lengthy lockdowns kept the mood cautious and have propelled the dollar close to 20-year highs, while the euro hit a five-year low.

Financial markets, already anxious about the prospects for aggressive US interest rate hikes, a spike in global inflation and the Ukraine war, were rattled this week over slowdown fears in China as Beijing stuck firm to stringent COVID-19 lockdowns.

Indonesian farmers fear the government-imposed ban on palm oil exports will see fresh fruit bunch (TBS) prices free fall amid an expected domestic supply glut.

Asian markets sank Monday on growing concerns of a sharp hike in US interest rates as officials struggle to contain runaway inflation, while oil was hit by expectations Chinese demand will dry up owing to COVID lockdowns.

Asian markets fell sharply at the open on Friday, trailing losses on Wall Street after the US Federal Reserve boss said an interest-rate hike was likely forthcoming.

Chinese and Hong Kong shares hit month lows and the yuan fell to its lowest in six months as Shanghai authorities said tough COVID-19 restrictions would remain in place.

Jakarta producers of traditional kerupuk (crackers) plan to raise prices on May 6 in response to higher ingredient costs.

Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5 percent.

The Japanese yen hit a 20-year low against the dollar on Tuesday in a development attributed to US economic outperformance amid high energy prices while the Ukraine crisis shows no signs of abating.

Tokyo's benchmark Nikkei 225 index was down 1.25 percent in early trade, while Hong Kong and Sydney were closed for holidays.

Traders were waiting for a European Central Bank meeting later in the day to see if it was as hawkish as others have been.

Latest US data raised hopes that inflation may be close to peaking, though several major central banks raised rates aggressively.

Asian stocks went against the losses seen on Wall Street and across Europe.

GoTo, the largest digital ecosystem in the archipelago nation of 270 million people, was formed by the merger of ride-hailing company Gojek and e-commerce platform Tokopedia in May 2021.

The mood in equity markets was cautious, with MSCI's broadest index of Asia-Pacific shares outside Japan easing 1.0 percent.

Fed monetary policy is at the top of the agenda this week as investors fret over how quickly officials will withdraw their vast pandemic-era financial support.

European Union officials were discussing new measures against Moscow after reports -- denied by the Kremlin -- that troops had executed civilians.

Musk, who has more than 80 million followers on the microblogging platform, became its largest shareholder following the purchase of 73.5 million shares or 9.2 percent of common stock.

A holiday on China made for sluggish trading, and MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent.

The trade ministry has warned that loosened pandemic restrictions, the upcoming Ramadan and Idul Fitri festivities could result in rising demand for imported staple foods, while commodity prices in world markets continue to fluctuate due to the Russia-Ukraine conflict.

This is the first time in two years that Pertamina has raised Pertamax prices, a move made to adjust to soaring global crude costs.

Stocks, bonds and the rupiah showed little change the day after the United States Federal Reserve raised its benchmark rate.