Most Asian stocks rose on Friday, tracking a record day on Wall Street, as another soft US inflation reading solidified expectations that the Federal Reserve will hold off hiking interest rates.

But shares in Hong Kong bucked the trend, with the benchmark Hang Seng Index falling 279 points, or 1.1 percent, to 25,116 on turnover of HK$254.18 billion.

The tech index was 84 points, or 1.8 percent, down at 4,707 while the China enterprises index was 85 points, or 1 percent, lower at 8,340.

On the mainland, the benchmark Shanghai Composite Index inched up 0.01 percent to end the day at 3,927.

The Shenzhen Component Index was 64 points, or 0.45 percent, higher at 14,354 while the ChiNext Index gained 40 points, or 1.12 percent, to 3,626.

In Tokyo, the Nikkei advanced 405 points, or 0.59 percent, to 68,713, notching a 4.7 percent weekly gain. The broader Topix climbed 21 points, or 0.51 percent, to 4,197, a record close.

In Seoul, the Kospi ended up 164 points, or 2.42 percent, at 6,977 for its highest close since July 23, led by gains in chipmakers on AI optimism.

The benchmark ended the week up 11.5 percent, the first weekly gain in eighth weeks and the biggest since early May.

Crude prices jumped almost 2 percent – almost wiping out Thursday's drop – after the United Arab Emirates blamed Iran for attacks on two vessels linked to its state-owned oil company as they passed through the Strait of Hormuz. (Agencies)


Edited by Edmond Fong