Stocks made tepid gains in early Asian trading on Friday ahead of the Bank of Japan's latest policy meeting, at which it is widely expected to keep rates on hold.

In Hong Kong, the benchmark Hang Seng Index opened 231 points, or 0.9 percent, higher at 26,861. The China enterprises index was 87 points, or 1 percent, up at 9,201 while the tech index was 55 points, or 1 percent, up at 5,817.

Across the border, the benchmark Shanghai Composite Index was up 0.18 percent at 4,130, while the Shenzhen Component Index was 0.15 percent up at 14,349. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was up 0.16 percent to open at 3,334.

The Star Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, opened 0.21 percent lower at 1,861 while the Star 50 Index, which tracks the largest stocks listed on the board that also meet certain liquidity requirements, opened 0.74 percent lower at 1,530.

In Japan, the Nikkei nudged 0.2 percent higher to 53,815 in early trading, while the broader Topix climbed 0.7 percent to 3,642.

MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.4 percent. S&P 500 e-mini futures fluctuated between gains and losses, last trading up 0.1 percent.

The regional gains came in the wake of Wall Street extending a rebound overnight for a second day after US President Donald Trump walked back earlier threats of tariffs on European ‍goods and ruled out taking control of Greenland by force.

"Markets welcomed the shift, with a rebound in risk assets and a flattening of government ‍bond yield curves," analysts from Societe Generale wrote in a research report.

"Policy uncertainty remains high, however. Further twists and turns are likely." (Reuters/Xinhua)