Japan is scheduled to release a raft of data on Friday, headlining a busy day for Asian economic activity. On tap are June figures for inflation, unemployment, household spending, industrial production, vehicle production and housing starts.

Nationwide inflation is expected to decline 0.7 percent on year after easing 0.9 percent in May. Tokyo inflation - considered a leading indicator for the nationwide trend - is tipped to fall 0.8 percent on year in July.

The unemployment rate is expected to hold steady at 5.2 percent, while household spending is predicted to ease 0.8 percent on year after falling 0.7 percent in the previous month.

Industrial output is predicted to rise 18.9 percent on year after adding an annual 20.4 percent in May. Vehicle production surged 30.6 percent on year in May and is expected to post similar numbers for June, while housing starts are called higher by 1.8 percent on year after plunging 4.6 percent a month earlier.

South Korea will announce June figures for industrial output, service industry output and its leading index. Industrial output is expected to rise 16.5 percent on year after climbing an annual 21.5 percent in May. Service industry output was up 3.8 percent in May, while the leading index saw a score of 8.

Thailand will provide June numbers for imports, exports, trade balance, current account and manufacturing production. Imports were up 53.5 percent on year in May, while exports rose 42.5 percent. The trade balance showed a surplus of $2.299 billion, and the current account came in at $1.039 billion. Manufacturing production is tipped to rise an annual 18.5 percent after adding 17.2 percent in May.