Putting some pressure on Japanese stocks on Friday was a relatively high yen, which traded as high as 100.67 against the dollar, compared with levels above 102 on Wednesday before the Fed's policy decision. At 2:48 p.m. HK/SIN, the dollar/yen traded at 100.78.
Major Japanese export stocks were mixed, with Toyota finishing down 3.16 percent and Honda slipping 2.37 percent. Meanwhile, Nissan added 0.98 percent and Sony shares gained 0.8 percent. A stronger yen tends to weigh on exporters as it reduces the value of overseas earnings when they are translated back into their home currency.
Many Japanese banking stocks also closed down more than 1 percent each, with investors likely taking profits after shares rallied on the back of the BOJ's decision to not cut interest rates further into negative territory on Wednesday. Negative interest rates affect the profit margins of banks.
Mitsubishi UFJ closed down 1.54 percent, SMFG was down 1.63 percent and Mizuho Financial fell 1.93 percent.
In the currency market, the dollar index, which measures the greenback against a basket of currencies, traded at 95.418, a touch higher than levels near 95.410 reached Thursday afternoon Asia time. That compared with levels over 96 before the Fed decision.
Meanwhile, the Australian dollar traded nearly flat at $0.7647 as of 3:02 p.m. HK/SIN, compared with its last close at $0.7642. The Aussie climbed in the previous session from a pullback in the dollar.
During Asian hours on Friday, oil prices saw some declines following a positive session in the U.S. hours.
U.S. crude fell 0.86 percent to $45.92 a barrel as of 3:03 p.m. HK/SIN, after climbing 2.2 percent on Thursday. Global benchmarkBrent was down 0.69 percent to $47.32 a barrel, after adding 1.8 percent in U.S. hours.
The Dow Jones industrial average gained 98.76 points, or 0.54 percent, to close at 18,392.46; the S&P 500 index rose 14.06 points, or 0.65 percent, to end at 2,177.18, and the Nasdaq advanced 44.34 points, or 0.84 percent, to 5,339.52.
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