CANBERA (dpa-AFX) - Asian stocks ended mixed on Friday after U.S. President Donald Trump touted prospects for an 'epic' trade deal with China, but failed to announce a date and place for a Trump/Xi summit.
Chinese state media Xinhua reported quoting Vice Premier Liu He that a new consensus has been reached between the two sides on the text of a trade agreement.
Investors also looked ahead to the all-important U.S. jobs report due later in the day, with economists looking for stabilization in payrolls, following the weakest reading since 2017.
Employment is expected to jump by 180,000 jobs in March after inching up by just 20,000 jobs in February. The unemployment rate is expected to hold at 3.8 percent.
The markets in Taiwan, China and Hong Kong were closed for the Tomb Sweeping Day holiday.
Japanese markets hit a one-month high, with shares of companies relying on Chinese demand leading the surge on hopes for a U.S.-China trade deal.
Investors shrugged off data showing that Japan's household spending rose less than expected in February and real wages fell unexpectedly.
The average of household spending in Japan rose an annual 1.7 percent in the month, missing expectations for a gain of 1.9 percent.
The Nikkei average rose 82.55 points or 0.38 percent to 21,807.50, marking the highest close since March 4. The broader Topix index closed 0.35 percent higher at 1,625.75.
Fanuc and Hitachi Construction Machinery gained over 1 percent each after Chinese President Xi Jinping said that 'new substantial progress' has been made on the text of the China-U.S. economic agreement.
Japan Post Insurance soared almost 10 percent. Its parent Japan Post Holdings announced on Thursday it would sell up to 30 percent of the outstanding shares in its subsidiary by the end of this month.
In economic news, a government report showed that the average of household spending in Japan rose an annual 1.7 percent in February, missing expectations for a gain of 1.9 percent.
Australian shares fell sharply, dragged down by financials. The benchmark S&P/ASX 200 index dropped 51.50 points or 0.83 percent to 6,181.30 while the broader All Ordinaries index ended down 49.80 points or 0.79 percent at 6,270.60.
The big four banks fell between half a percent and 1.4 percent while mining heavyweights BHP and Rio Tinto ended on a mixed note.
Gold miners Evolution, Northern Star and Regis Resources gained around 1 percent as the precious metal rebounded from a 10-week low touched in the previous session.
Energy stocks finished broadly lower, with Oil Search losing half a percent and Santos declining 1 percent.
Technology stocks such as Xero, Appen and WiseTech Global tumbled 3-4 percent.
Automotive retailer AP Eagers soared 5.6 percent after it made a takeover bid of A$1.92 per share for smaller rival Automotive Holdings Group.
In economic news, the latest survey from the Australian Industry Group revealed that the construction sector in Australia continued to contract in March, albeit at a slower rate.
South Korea's Kospi average ended up 0.14 percent at 2,209.61. Market heavyweight Samsung Electronics ended slightly lower after the world's biggest smartphone and memory chipmaker warned of a 60 percent plunge in first-quarter operating profit.
New Zealand shares fell for a third straight session, with the benchmark S&P/NZX 50 index ending down 35.55 points or 0.36 percent at 9,857.05.
Retirement village operator Summerset Group Holdings slumped 7 percent after saying it was seeing some increased settlement times due to the slowing property market in Auckland and Christchurch.
U.S. stocks ended mixed overnight as the jobs report loomed and carmaker Tesla missed on the number of vehicles it delivered.
The Dow rose 0.6 percent and the S&P 500 inched up 0.2 percent to reach their best closing levels in nearly six months, while the tech-heavy Nasdaq Composite slipped 0.1 percent.
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