Asian markets closed mostly higher Friday, with Japan extending gains, but some caution persisted after recent volatility.
The Nikkei 225 added 48.07 points, or 0.3%, to end the week at 16,188.41.
In Hong Kong, the Hang Seng index soared 475.4 points, or 2.5%, to 19.364.15
Shares initially got a boost as the yen weakened, with the U.S. dollar-yen pair strengthening above the 113-handle, but the yen gave up some of its gains during the session. The dollar was fetching 112.69 yen.
A weaker yen is a positive for shares of Japan's exporters as it boost overseas earnings when they are translated back into the home currency.
Exporters were mixed, with Toyota down 0.4%, while Sony added 0.2%
Sharp, however, proved another story. The troubled electronics maker saw steep losses, with its shares down 11.4%; on Thursday, its shares fell 14%. The selloff started after Reuters and the Nikkei reported Thursday that the company accepted a 659-billion-yen ($5.9-billion U.S.) takeover bid by Taiwan's Foxconn.
Since then, several media outlets reported the Taiwanese manufacturer as saying that it would not confirm the deal until Sharp clarified terms in a new document over previously undisclosed contingent liabilities potentially worth more than $3 billion U.S.
Shares of Foxconn, also known as Hon Hai Precision Industry, were down 1.7%
Japanese inflation data, released Friday, spurred some fresh concerns about the country's efforts to revive its economy. Japan's core consumer prices for January remained unchanged on the year, in line with expectations, and below the Bank of Japan's inflation target of 2%. Last month, the central bank introduced negative interest rates in a bid to spur economic growth.
In Australia, miners finished mostly lower, with Rio Tinto, BHP Billiton and Fortescue down as much as 3.2%.
Energy shares were mixed. In Japan, Inpex added 0.1%, but in Australia, Woodside dropped 3.1% and Oil Search fell 0.8% Hong Kong-listed Sinopec gained 5.7%.
In Singapore, Noble Group shares were up 6% after falling over 10% in total on Wednesday and Thursday, following the company's profit warning after the market close Tuesday. The commodities trader reported its first annual loss in nearly 20 years after the market close Thursday, saying it lost $1.67 billion U.S. after a $1.2-billion writedown on its coal assets.
Australian supermarket chains Woolworths retraced losses of as much as 2.7% to finish up 2.1%. The company reported its earnings before market open. Reports said the company's fiscal first-half net income fell 33%, while first-half profit after tax was A$925.8 million, down from the $1.3 billion U.S. reported a year earlier.
In other markets;
The Shanghai CSI 300 index recovered 29.28 points, or 1%, to 2,948.03
In Korea, the Kospi index inched up 1.59 points, or 0.1%, to 1,920.16
In Singapore, the Straits Times Index moved higher 45.98 points, or 1.8%, to 2,649.38
In Taiwan, the Taiex index gained 45.3 points, or 0.5%, to 8,411.16
The NZX 50 in New Zealand dropped 0.3 points to 6,224.98.
In Australia, the ASX 200 lopped off 1.22 points to 4,879.96
