Traders in Asia also look toward August consumer prices index from Japan and Hong Kong, and central bank decisions from Bank of Japan and People's Bank of China.

Asian stocks surged on Friday with Japan’s Nikkei leading regional gains after Wall Street romped to records following the Federal Reserve’s big cut to interest rates. U.S. futures and oil prices were lower.

The major benchmarks rebounded from intraday lows after a volatile trading session, as investors parsed through the higher-than-expected consumer prices report.

Asian markets built Friday on the latest global rally after a jumbo US interest rate cut, while the yen edged up as focus turns to the Bank of Japan policy decision later in the day. With the Fed now out the way,