Asian shares closed mostly higher on Friday, with investor confidence improving amid a de-escalation in recent trade and geopolitical tensions.
The Nikkei 225 Index recovered 118.46 points, or 0.6%, to end the week at 21,778.74, with financial and materials stocks climbing amid the weaker yen.
In Hong Kong, the Hang Seng index faded 22.9 points, or 0.1%, to 30,808.38
In individual movers, shares of SJM Holdings traded higher by 4.8% after rising more than 10% after announcing that gambling tycoon Stanley Ho would be retiring as its chairman on June 12. Shares of other Hong Kong-listed casinos mostly traded higher on Friday.
Meanwhile, the Hong Kong Monetary Authority bought the territory's currency after the Hong Kong dollar touched the weak end of an allowed range. The Hong Kong dollar is pegged to the U.S. dollar.
Improved risk appetite saw the U.S. dollar extend gains made overnight against the yen. The greenback traded at 107.53 late in the Asian afternoon. The dollar held steady after its Thursday advance against the Swiss franc, which is also regarded as a safe haven during times of instability, to last trade at $0.9632 U.S.
In Korea, cosmetics names finished the day with significant gains, with Amorepacific closing up 3.6% while technology had a mixed session.
Of note, U.S. President Donald Trump asked his advisors to consider rejoining a major Trans-Pacific trade deal after first pulling out of the agreement last year. Following the U.S. withdrawal, the remaining 11 countries have since signed the trade agreement earlier this year.
He later said in another tweet that he would only re-enter the agreement if it was "substantially better" than what was offered to former U.S. president Barack Obama.
The latest trade-related development comes after recent trade tensions between the U.S. and China. Newly imposed and proposed tariffs from both countries had caused jitters in global stock markets in recent weeks.
CHINA
In China, the CSI 300 ditched 27.5 points, or 0.7%, to 3,871.14
Investors also digested trade data out of China, which showed March exports in dollar terms declined 2.7% on year, missing expectations.
Imports in dollar terms rose 14.4%, topping the 10% rise projected in an economists’ poll. A rare trade deficit of $4.98 billion U.S. was posted for the month
In other markets
In Korea, the Kospi gained 12.36 points, or 0.5%, to 2,455.07
In Singapore, the Straits Times Index vaulted 32.69 points, or 0.9%, to 3,501.30
In Taiwan, the Taiex Index picked up 10.1 points, or 0.1%, to 10,965.39
In New Zealand, the NZD 50 Index recouped 10.55 points, or 0.1%, to 8,414.77
In Australia, the ASX 200 Index gathered 13.35 points, or 0.2%, to 5,829.08
