Dealers said the steel sector got a boost after the industry's largest firm, Baoshan Iron and Steel, announced a series or price hikes while the market overall attracted follow-through interest after Thursday's modest gains.
At the same time, strong resistance remains in place at 1,300 points on the Shanghai Composite Index and it may take some special lead to get through it.
The Shanghai A-share Index added 8.07 points to 1,359.86, while the Shenzhen A-share Index was up 2.45 points or 0.76 percent at 326.91. The benchmark Shanghai Composite Index, which covers A and B-shares, added 8.02 points or 0.62 percent at 1,296.87.
Steelmakers gained ground after Baoshan Iron and Steel announced price hikes and reports said Arcelor had won initial approval to buy a 38.41-percent stake in Laiwu Steel Corp (
Sydney share prices closed 0.40 percent lower after a fall in metal prices sparked profit-taking. The fall came after a week in which investors were buoyed by solid earnings reports. The SP/ASX 200 dropped 19.8 points to 4,893.4 while the broader All Ordinaries Index dropped 17.9 points to 4,849.4.
Singapore share prices closed 0.74 percent higher, boosted by gains in blue chips such as Singapore Airlines and diversified conglomerate Keppel Corp. The Straits Times Index rose 18.09 points to 2,453.67 after breaking the psychological resistance level of 2,450.
Malaysian share prices closed 0.28 percent lower on fears of rising inflation and interest rates with sentiment also undermined by Wall Street's overnight losses.
The composite index was down 2.60 points at 924.91 on volume of 659.67 million shares.
Bangkok share prices closed 1.24 percent higher as investor confidence returned to the market amid an apparent easing of political uncertainty. The composite index gained 9.12 points to 741.80 on turnover of 4.2 billion shares.
In Jakarta share prices closed 0.66 percent lower, led by state Bank Mandiri and gas firm PGN amid continued concerns over possible disappointing earnings results for last year. The composite index fell for the fourth consecutive day, down 8.024 points at 1,216.140.
Manila share prices closed 1.02 percent lower as Philippine President Gloria Arroyo declared a state of emergency to crush what she described as a coup attempt.
Dealers said the market traded lower for most of the session, with selling more intense following the president's announcement, but there were investors who quickly picked up the bargains and limited the day's fall.
The composite index ended down 21.39 points at 2,069.93. Volume was 1.27 billion shares.
Wellington share prices closed 0.49 percent lower after leading stocks dragged the market lower.
The NZSX-50 gross index fell 16.55 points to 3,377.84.
Mumbai share prices closed down 0.42 percent, snapping a four-day gaining streak, as weak Asian markets and investor caution ahead of Tuesday's budget led investors to book profits.
The 30-share SENSEX index fell 43.29 points to 10,200.76.
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