Asian stock markets generally saw a slight increase on Friday, as investors shifted their focus to the upcoming release of US core personal consumption expenditure (PCE) inflation data. At the same time, the Chinese market rose due to weak business activity data driving expectations for additional stimulus measures.

The US stock market performed poorly overnight, as weak GDP data raised concerns about slowing economic growth and high interest rates, leading regional stock markets to accept the guidance of the downturn. US stock index futures fell in Asian trading.

The inflation indicator that the Federal Reserve is concerned about - the PCE price index - has now become the main focus of more interest rate indicators. The data will be released later this Friday.

The expectation of inflation reports has limited any significant gains in the Asian market.

The purchasing managers' index of China's manufacturing industry fell back into the contraction range in May, while the expansion speed of the non manufacturing purchasing managers' index was lower than expected, indicating that the boosting effect of earlier stimulus measures has declined.

Although the official Purchasing Managers Index data released by China shows a decline in economic activity, the Chinese stock market still shows an upward trend, with a focus on stimulus measures. On Friday, both the Shanghai and Shenzhen 300 Index and the Shanghai Composite Index rose nearly 0.3%.

However, the sluggish data has fueled expectations that Beijing will provide additional policy support for the economy, especially after the government introduced a series of supportive measures in May.

ING analysts wrote in a report, "It may be necessary to accelerate policies such as trade in exchange programs to stimulate consumption and investment, in order to ensure that the economy remains on track to achieve this year's 5% growth target."

It is expected that the Chinese stock market will close flat in May, and the recovery from several years of lows has stalled in recent weeks.

On the other hand, the Hong Kong stock market has performed strongly, with the Hang Seng Index rising 1.3% and investors flocking to technology stocks due to their significant price discounts.

The Hang Seng Index was also the best performing index in Asia in May, rising nearly 4%, as investors hope to increase their potential exposure to China's economic recovery.

On Friday, most Asian stock markets rose, but it is expected that the performance in May will be flat as high interest rates and inflation concerns weighed on investor sentiment.

The Nikkei 225 index in Japan rose 0.3%, while the broader TOPIX index rose 0.7%, as Tokyo's consumer price index data showed a slight increase in inflation.

However, these two indices are expected to perform relatively poorly in May, failing to reach the record high set earlier in 2024.South Korea's KOSPI rose 0.4% on Friday and is expected to decline by about 2% in May, as the selling of important chip manufacturing stocks has intensified concerns about artificial intelligence.

ASX 200 in Australia rose 0.5%. Despite growing concerns about the Australian economy slowing down due to sustained high inflation and rising borrowing costs, it will remain stable in May.

India's Nifty 50 stock index futures have shown moderate growth, with the index falling sharply from a record high this week. Anxiety over the 2024 general election is expected to cause a slight decline in Nifty in May, and the election results in India will be announced on June 4th.