Nikkei shed 1.8 per cent, Australia’s resources-heavy shares slipped 1.5 per cent, while South Korea slumped 2.3 per cent

Asian shares joined a global selloff on Friday as a still messy data calendar added to the angst, hitting bonds, the dollar and even gold.

Nikkei shed 1.8 per cent on Friday, Australia’s resources-heavy shares slipped 1.5 per cent, while South Korea slumped 2.3 per cent. China will report its monthly activity figures later in the day, after weak lending data flagged concerns from households and businesses to take on more debt amid economic uncertainties.

The dollar failed to get a lift on higher yields, losing ground to the likes of the yen and Swiss franc.

The drawdown seen across assets was pronounced, and looking across the suite of investible markets there were few places to hide, said Chris Weston, head of research at Pepperstone.

With the US government open for business, traders now await the Bureau of Labor Statistics (BLS) schedule for key economic data. So far, positioning has been set largely on Tier 2 data, and that will need to be reconciled against the headline data that truly drives the Fed’s decision-making process, he added.

The yen got some much-needed respite and last traded at 154.7 per dollar, just a touch above a nine-month low of 155.05 per dollar. The Swiss franc jumped 0.6 per cent on the dollar.

Oil prices rose in early trade but were set for the third straight week of declines. US West Texas Intermediate crude gained 0.4 per cent to $58.91, but were down 1.4 per cent this week.

Spot gold prices rose 0.3 per cent to $4,183 per ounce, having lost 0.6 per cent overnight to snap a four-day winning streak. It remained well off its record top of $4,381.