Nikkei jumps 2.4%
Japan's Nikkei 225 index posted its best day in six-and-a-half weeks to close at a one-and-a-half-week high on Friday, as dollar-yen breached the 119 handle. By 1540 SIN/HK, the yen traded at 119.16 to the dollar.
As such, exporter stocks got a fillip; Toyota Motor surged 4.3 percent and Nissan rose 2.4 percent. However, Sony underperformed the bourse, losing nearly 2 percent, on reports that North Korea was behind a cyber attack which has resulted in Sony Pictures pulling all plans to release its comedy "The Interview."
Meanwhile, the Bank of Japan kept its monetary policy steady at its final meeting of the year, as had been expected. But the central bank raised its economic assessment, citing signs of a pickup in exports.
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Mainland bourses up
China's benchmark Shanghai Composite index put up a rally late Friday to close up 1.7 percent.
Among the most active stocks in Shanghai were China State Construction Engineering which rose the maximum allowable 10 percent, and China Shipbuilding Industry up 5.9 percent. Property developers extended Thursday's losses; China Merchants Property slumped 2.5 percent while Vanke sank 1.2 percent..
Meanwhile, China revised up the estimated size of its economy for 2013 by 3.4 percent to 58.8 trillion yuan, the National Bureau of Statistics said on Friday, but said the revision will not affect economic growth this year.
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In Hong Kong, the Hang Seng index climbed 1.3 percent, after hitting a one-week high of 23,189 points earlier in the session.
Carmaker BYD finished 14 percent higher in Hong Kong and up 2.9 percent in Shenzhen, after posting its biggest single-day drop of more than 45 percent in the previous session amid various market rumors such as U.S. investor Warren Buffett is considering to reduce his stake.
Meanwhile, BAIC Motor, partly-owned by Germany's Daimler, traded at HK$8.85 in its trading debut. The Chinese automaker raised $1.4 billion dollars in the public offer.
Gaming stocks remained in focus ahead of Chinese President Xi Jinping's visit to the city this weekend. Melco Crown led gains in the sector by rising 22.7 percent.
"There's a need to clean up Macau, make it more mass market... and that is a painful transition," Jon Oh, Research Analyst for Gaming and Lodging at CLSA, told CNBC Asia's "Squawk Box." "As such, gaming plays are likely to underperform in the next 1-2 quarters."