Asia Mixed to Close Week

Asian shares closed mixed on Friday after searching for direction for most of the Asian trading day.

Markets in Japan were shuttered for Culture Day

The Hang Seng Index regained 84.97 points, or 0.3%, to end the week at 28,603.61.

China Huishan Dairy Holdings, which saw its stock fall 90% in March, has reached a deal with more than half of its Chinese creditors on a debt restructuring plan representing above two-thirds of the outstanding amount it owes, the company said in a filing to the Hong Kong Exchange.

South Korea markets reversed early losses as automakers notched gains: Hyundai Motor closed up 0.9% and Kia Motors rose 0.3%. Blue-chip tech stocks were mixed as investors took profits. Samsung Electronics fell 1.2% by the end of the session after it announced a record profit earlier this week.

Apple suppliers in Asia were in focus after the iPhone maker posted an earnings beat on Thursday. Apple, which launched iPhone X sales on Friday, also said its iPhone 8 and iPhone 8 Plus models had "instantly" become top-selling products.

South Korea's LG Display closed flat and LG Innotek shed 0.6%. Taiwanese Apple suppliers, however, had a more upbeat session: Camera lens supplier Largan Precision soared 3.6% on the day and Hon Hai Precision Industry ended 0.4% higher.

Down Under, markets rose, with mining stocks popping on the day. Rio Tinto added 1.1% in the session, Kingsgate soared 6.8% and Newcrest Mining closed up 2.5%

The Australian dollar fell after retail sales for September were unchanged compared to one month ago. That was below the 0.4% increase estimated in a Reuters poll. The currency traded at $0.7679 against the U.S. dollar late Friday.

Speaking of the greenback, it edged down against the Japanese yen to trade at 114.07, near its highest levels since July.

In Shanghai, the CSI 300 docked 4.43 points, or 0.1%, to 3,982.31

The Caixin services PMI for October released Friday came in at 51.2. The official metric for non-manufacturing activity had come in at 54.3.

Also of note, authorities issued draft guidelines regarding the overseas investments of Chinese companies. Those new rules will mean companies have to get approval for foreign deals conducted through their offshore subsidiaries, although other regulations were streamlined

Alibaba Group Holding announced revenues rose 61% to 55.1 billion yuan ($8.3 billion U.S.) in the quarter ending on Sept. 30 compared to one year ago. The e-commerce giant also raised its guidance for revenues in fiscal year 2018, stating that it expected revenues would grow between 49% and 53%, compared to an earlier estimated range of 45% to 49%.

In other markets

In Korea, the Kospi index restored 11.61 points, or 0.5%, to 2,557.97

In Taiwan, the Taiex Index was up 12.26 points, or 0.1%, to 10,800.77

In Singapore, the Straits Times Index inched up 1.81 points, or 0.1%, to 3,382.31

In New Zealand, the NZX 50 doffed 17.94 points, or 0.2%, to 8,065.12

In Australia, the ASX 200 moved forward 28.17 points, or 0.5%, to 5,959.88