Repost: Asian stocks take a breather after days of declines

Asian stocks saw gains on the day. Take a look at CNBC‘s latest market updates:

 


Following a closely watched OPEC meeting in Vienna on Thursday, the cartel reportedly agreed to decrease oil production but did not specify the exact number of barrels it aimed to bring off the market.

 

Shares in Asia were mostly higher on Friday on the back of a report suggesting the U.S. Federal Reserve could consider a slower tempo of increasing interest rates than had been previously expected.

 

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively.

 

Meanwhile, the Hang Seng index in Hong Kong traded down by around 0.1 percent as of its final hour of trade.

 

Japan’s Nikkei 225 rose 0.82 percent to close at 21,678.68 while the Topix index gained 0.61 percent to finish the trading week at 1,620.45.

 

Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The company had earlier announced that there was no change in its earnings and dividend forecasts after a mobile service outage on Thursday.

 

Over in South Korea, the Kospi gained 0.34 percent to close at 2,075.76, with shares of chipmaker SK Hynix rising 1.21 percent.

 

The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw declines amid a broader sell-off across the Asia Pacific region.

 

Shares of Australia’s so-called Big Four banks saw gains on the day. Australia and New Zealand Banking Group rose 0.16 percent, Commonwealth Bank of Australia gained 1.00 percent while Westpac advanced 0.23 percent and National Australia Bank climbed up by 0.25 percent.

 

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