Asian stocks ended mixed in thin trade, with Japanese markets closed for a holiday.

The dollar held gains and gold ticked higher on heightened tensions in the Middle East and West Asia, while oil prices were down nearly 2% in Asian trading on China demand concerns after China's weekend stimulus announcement contained no timetable, no amount, no details of how the money will be spent.

China's Shanghai Composite index recovered from an early slide to end 2.07% higher at 3,284.32 as investors digested the latest inflation figures and awaited the release of trade figures for further direction.

China's consumer inflation unexpectedly eased in September, while producer price deflation deepened, underscoring the need for further policy support to revive falling housing sales and other spending.

Hong Kong's Hang Seng index settled 0.75% lower at 21,092.87 after a choppy session.

Seoul stocks rallied, with sentiment buoyed by strong profits at big U.S. banks and bets that China will announce more measures to boost its slowing economy. The Kospi average jumped 1.02% to 2,623.29.

Australian markets eked out modest gains to end near two-week highs, with financials, resource and healthcare stocks pacing the gainers.

The benchmark S&P/ASX 200 rose 0.47% to 8,252.80 while the broader All Ordinaries index closed 0.45% higher at 8,529.50. WEB Travel plummeted almost 36% after downgrading guidance.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index dropped 0.61% to 12,766.75 after a survey revealed the country's services sector remained in deep contraction in September.

U.S. stocks rose Friday as investors cheered strong earnings results from the likes of JPMorgan Chase and Wells Fargo, and a benign producer price inflation reading.

Data showed producer prices in the U.S. were unexpectedly unchanged in September after rising by 0.2% in August.

The annual rate of growth in producer prices slowed to 1.8% from an upwardly revised 1.9% in August.

The Dow climbed 1% and the S&P 500 added 0.6% to reach new record closing highs while the tech-heavy Nasdaq Composite edged up 0.3%.