Asia markets reversed early losses to finish mostly higher on Friday, as traders digested fresh easing from the European Central Bank (ECB) overnight.
The Nikkei 225 jumped 86.52 points, or 0.5%, to 16,938.87. The index was still down 0.4% for the week.
In Hong Kong, the Hang Seng index recovered 215.18 points, or 1.1%, to 20,199.60
Overnight, the ECB delivered a surprise package of measures to kick-start Europe's economy by cutting its main interest rates and expanding its massive bond-buying program.
In the currency market, the euro came off the highs it touched after the ECB's announcement. During Asian hours, the euro/U.S. dollar pair traded at 1.1174 after rising as high as 1.1217 on Thursday after the decision.
The Japanese yen remained near the 113 handle against the U.S. dollar in the second half of the Asian session. The dollar/yen pair traded at 113.47. Exporters in Japan finished mixed, with shares of Toyota off 0.2% and Nissan lower by 0.3%, while Sony added 0.3%. Usually, a stronger yen is a negative for exporters as it reduces their overseas profits when converted into local currency.
Mining stocks in Australia closed mixed, with major miners Rio Tinto off 0.4% and BHP Billiton lower by 0.5%. Shares of South32 finished up 3.5%. Commodity prices retreated from their rally earlier in the week. For example, this week, iron ore hit its highest point for the year at $63.30 U.S. a tonne; Friday morning, prices retreated to $57.40 U.S. a tonne.
BNP Paribas said in a note Friday that commodities, in particular iron ore, had been a key driver for the Australian market this week in the absence of major data.
The rally in commodities helped to strengthen the Australian dollar, which was up at $0.75 Friday, off lows of just under $0.71 last month.
Energy plays in Asia were mixed, with Santos closing up 0.8%, Oil Search lower by 1.9% and Inpex lower by 1%.
CHINA
The Shanghai CSI 300 index regained 5.14 points, or 0.2%, to 3,018.28
Chinese mainland oil plays reversed losses to close mostly up, with Sinopec adding 0.2%
The Chinese yuan strengthened against the U.S. dollar, with the dollar/yuan pair down 0.2% at 6.4935 in the afternoon. Before market open, the People's Bank of China (PBOC) set the yuan mid-point fix at 6.4905, its strongest level in 2016, compared with Thursday's fix of 6.5127.
In other markets;
In Korea, the Kospi index gained 2.08 points, or 0.1%, to 1,971.41
In Taiwan, the Taiex Index picked up 45.44 points, or 0.5%, to 8,706.14
In Singapore, the Straits Times Index strengthened 19.74 points, or 0.7%, to 2,828.86
The NZX 50 in New Zealand gained 7.13 points, or 0.1%, to 6,515.41.
In Australia, the ASX 200 regained 16.32 points, or 0.3%, to 5,166.40, registering a 1.5% gain for the week.
