Asian shares were headed for their third straight week of losses on Friday, hammered by concerns about China's ailing economy and fears of U.S. rates staying higher for longer after a run of strong data sent long-term Treasury yields surging.

Europe is likely to open lower as well, with EUROSTOXX 50 futures easing 0.3%.

Asian shares set for third losing week on China woes, US rates comes via ChinaTechNews.com.