Sentiment in Asia turned cautious on Friday ahead of a key jobs report in the U.S. but Shanghai stocks rallied as investors cheered new measures by the Chinese central bank to open up its capital markets.
The Shanghai Composite rose 1.4 percent to rebound from the previous day's 2013 low while South Korea's Kospi closed just below a six-week high. Australia's benchmark S&P ASX 200 reversed earlier strong gains to end flat.
Japanese financial markets were shut for the Golden Week holidays and will resume trade on Tuesday.
April's non-farm payrolls data in the U.S, expected later on Friday, is expected to show a creation of 145,000 new jobs, which would be a significant improvement from March's figure of 88,000.
(Read More: Market's Expectations for April Jobs Report Are Low)
"There is a lot of uncertainty partly because of seasonality, partly because of conflicting readings between the ADP National Employment Report and the weekly initial claims filing. Even in the best case, I'm afraid it won't change the picture. This is still a relatively weak job market," said Adolfo Laurenti, managing director and deputy chief economist at Mesirow Financial.