·       Asian stocks inched up to five-week highs on Friday, after Chairman Jerome Powell reiterated the Federal Reserve will be patient about raising interest rates and news that trade talks between Washington and Beijing are moving to higher levels.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.29 percent to the highest levels since Dec. 6, while Japan's benchmark Nikkei .N225 advanced 0.97 percent. Shanghai Composite Index .SSEC initially rose 0.56 percent.

“The word ‘patient’ is used often when the Fed’s policy direction is still tightening but its next rate hike can wait for a considerable time. So risk assets now enjoy support from what we can call Powell put,” said Tomoaki Shishido, economist at Nomura Securities.

“Similarly, Trump also softened his stance on China after sharp falls in stock prices. He has offered an olive branch to China and there’s no reason China would not want to accept it,” he said.

·       Japanese stocks rallied on Friday, tracking strong U.S. shares and overcoming falls by convenience stores which reported dismal quarterly earnings the previous day.

The Nikkei share average rose 0.7 percent to 20,306.16 at the midday break. For the week, it has added 3.7 percent.

The Nikkei has recovered the psychologically important line of 20,000 on hopes of a U.S.-Chinese trade deal, which tempered worries over the impact of the dispute on global growth.

“The Nikkei now seems comfortable above 20,000. It may gradually recover further while it prices in developments of global issues,” said Takuya Takahashi, a strategist at Daiwa Securities.

·       Shares in China ended higher on Friday amid news that China’s top trade negotiator may visit Washington this month, boosting optimism about a resolution to the Sino-U.S. trade war. However, concerns about a slowing economy continued to weigh on investor sentiments.

The Shanghai Composite index settled 0.74 percent higher at 2,553.83, while the blue-chip CSI300 index advanced 0.72 percent.