During early Asian trading hours, US stock index futures advanced, with market sentiment steadying at the start of a new quarter after a sharp late-session swing on Wall Street erased gains that had been triggered by softer-than-expected inflation data.

S&P 500 futures rose 0.2%. In the final hours of Wednesday's session, the index had wiped out its gains and ultimately closed down 0.2%. Micron Technology delivered upbeat earnings guidance but cautioned that rising compensation costs would weigh on profit margins, and as a result, Asian stocks were expected to open mixed.

After global government bonds suffered their worst quarterly performance since 2024, bond yields remained the market's central focus. Oil prices pushed above $100, intensifying the threat of entrenched inflation facing the world economy. The US 30-year Treasury yield climbed again, setting a fresh high since 2002. Money markets priced in less than a 40% probability of a Federal Reserve rate hike in October.

In early Asian trading, US crude oil prices edged lower to $90.10 per barrel, holding onto gains from the previous session. Meanwhile, the US dollar ended its strongest month since March.