Asia markets closed mixed on Friday as investors digested a data deluge from China, although stocks still managed to post weekly gains. The moves in Asia followed another record close in U.S. stocks on Thursday.
Australia's ASX 200 closed up 17.99 points, or 0.33 percent, at 5,429.60, boosted by advances in the heavily-weighted financials sub-index, as well as in the energy and material sub-indexes. For the week, the Australian benchmark index advanced 3.81 percent.
In South Korea, the Kospi index closed up 8.49 points, or 0.42 percent, at 2,017.26, gaining 2.76 percent for the week.
Japan's benchmark Nikkei 225 posted a weekly gain of 9.20 percent, closing up 111.96 points, or 0.68 percent, at 16,497.85 on Friday. The Topix finished up 5.94 points, or 0.45 percent, at 1,317.10. In Hong Kong, the Hang Seng index traded up 0.23 percent in late afternoon trade, after wavering between gains and losses throughout the session.
Chinese mainland markets gave up gains in afternoon trade to close near flat, following a somewhat muted reaction to the second quarter gross domestic production (GDP) number released in the morning.
"It has been "risk on" again over the last week in investment markets, helped by a combination of good economic data in the U.S. and China, good U.S. earnings news and firming expectations of more policy stimulus in Japan," said Shane Oliver, head of investment strategy and chief economist at AMP Capital.
"Markets generally have moved on from the initial panic reaction seen in the days after the Brexit vote," added Oliver.