BEIJING (dpa-AFX) - Asian stocks ended mixed in thin trade on Friday, with markets in South Korea, Taiwan and mainland China closed for public holidays.
The U.S. dollar consolidated weekly gains ahead of durable goods orders data for August and the University of Michigan's consumer sentiment index to be published later in the day.
Gold was marginally higher at $4,278.70 an ounce and headed for a weekly loss, pressured by growing expectations that the Federal Reserve may raise interest rates again in October.
Brent crude futures were modestly lower at $106.24 in Asian trade after a two-day rally.
Hong Kong's Hang Seng index fell 1.01 percent to 24,510.09, led by technology and AI stocks as investors assessed the Trump-Xi summit's implications for bilateral relations.
Despite differences over Iran, Taiwan and trade, Trump described the meeting as 'great' and hailed the 'truly great friendship' he has forged with his counterpart.
China's Ministry of Foreign Affairs described Xi's visit to the U.S. as a 'great visit.'
Japanese markets rallied as a weakening yen outweighed concerns over rising Japanese bond yields. The Nikkei average hit a new one-month high before closing 1.30 percent higher at 66,364.20. The broader Topix index rose 1.31 percent to 4,128.59.
Semiconductor-related companies topped the gainers list, with Kioxia Holdings rising 2.2 percent, Advantest rallying 2.8 percent and Tokyo Electron surging 4.8 percent.
SoftBank Group shares tumbled 3.2 percent on concerns over AI funding after Oracle invoked force majeure over its Project Jupiter data center in New Mexico, seeking to shield itself from racking up expenses if the facility is delayed beyond 2028.
Australian markets ended lower, with tech, real estate and discretionary stocks falling deeper into correction territory.
The benchmark S&P/ASX 200 dropped 0.43 percent to 8,665, reaching its lowest level since 12 June. The broader All Ordinaries index fell 0.58 percent to 8,845.60.
Lithium miners slumped as Chinese carbonate futures extended their slide. Pathology group Healius jumped 5.6 percent after signing a binding agreement to sell Agilex Biolabs to Novotech for A$160m.
Across the Tasman, New Zealand's benchmark S&P/NZX-50 index finished marginally lower at 13,811.11 after a choppy session amid a surge in global bond yields.
U.S. stocks ended little changed overnight, after having slumped early in the session in the wake of surging oil prices, rising bond yields and hawkish Federal Reserve commentary.
The major averages climbed well off their lows after reports emerged that U.S. and Iranian negotiators are exploring a phased deal that would see Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iranian ports.
While the tech-heavy Nasdaq finished marginally higher, the S&P 500 edged down marginally and the Dow dipped 0.3 percent as the 10-year yield hovered near levels not seen since July 2007 on renewed concerns about inflation and interest rates.
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