Shanghai Composite gains 0.7%
Mainland shares closed higher thanks to a rally amid rare earth stocks. China Minmetals Rare Earth closed up 10 percent and Inner Mongolia Baotou Steel Rare-Earth Group ended 4 percent higher.
Banks stabilized after the People's Bank of China said on Thursday that currency economic conditions remained within a "reasonable range," which initially dashed hopes for a cut to banks' reserve requirement ratio (RRR).
Lenders Minsheng Bank and Hua Xia Bank rallied over 1 percent each.
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ASX gains 0.2%
Australia's benchmark S&P ASX 200 reversed losses to close at its highest levels since March 7, extending gains into a third session. For the week, the index posted a 1 percent gain.
Department store David Jones was one of the biggest losers, down 1.8 percent after CEO Paul Zahra said that formal talks about a merger with rival Myer were still months away.
Home builders CSR and Boral gained 0.8 and 0.5 percent, respectively, on news that both firms are looking to combine their brick operations to form a joint venture.
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