Asian stocks reached new highs on Friday, with South Korean stocks leading the gains, rising as much as 1.7% to their highest levels since January 2022. Stocks in Indonesia gained 0.8%, and Taiwan equities climbed 0.5% to scale a record high. Most Asian currencies were largely unchanged despite a weaker dollar. The South Korean won and Singapore dollar inched higher, while the Indonesian rupiah rose and the Taiwanese dollar edged lower. Traders are pricing in a 73% chance of a rate cut in September. Traders are also awaiting monetary policy decisions in South Korea and Malaysia next week, as well as China's June inflation and Singapore's first-quarter economic growth estimates. The Thai baht was largely flat after the country's headline consumer price index rose 0.62%, and Thailand shares were up 0.6% after the data. The Bank of Thailand Chief said there is no need to cut interest rates despite the country's slow economic recovery. Bitcoin posted its worst week on liquidation fears. The Department of Labor and Employment (DOLE) says aid is available for displaced Sofitel workers [8bfaf72d].