(fxcue news) - Asian stocks ended mixed on Friday, with a stronger yen amid BOJ rate hike bets weighing on Japanese markets while Chinese stocks logged strong gains on stimulus expectations, heading into a key economic meeting next month. The Japanese yen briefly breached the key level of 150 against the dollar after core inflation in the capital region came in above the 2 percent target, boosting expectations for an interest rate hike in the near-term. On the contrary, Japanese industrial production and retail sales registered weaker-than-expected growth in November. The dollar fell alongside yields, helping gold prices push higher by nearly 1 percent in Asian trade. Brazil's real tumbled to a record low due to uncertainty over the fiscal outlook. Oil prices drifted lower after OPEC+ announced a postponement of its highly anticipated meeting to discuss production strategies. China's Shanghai Composite index rallied 0.93 percent to 3,326.46 amid speculation that Beijing will provide more support for the economy at a key policy meeting in December. Also, in a significant move, Beijing said it will extend tariff exemptions for the import of some U.S. products until Feb. 28, 2025, signifying a potential easing in trade barriers amid U.S. trade tensions. Hong Kong's Hang Seng index edged up by 0.29 percent to 19,423.61 after a choppy session. Japanese markets declined as the yen strengthened on BOJ rate hike speculation in response to hotter-than-expected inflation data. Markets, however, ended off their day's lows after reports that Japan may delay a decision on raising taxes to help cover rising defense spending. The Nikkei average closed 0.37 percent lower at 38,208.03 and fell 0.2 percent for the week, marking its third consecutive week of losses. The broader Topix index settled 0.24 percent lower at 2,680.71. Exporters Sony, Toyota Motor and Nissan shed 2-4 percent while tech stocks like SoftBank and Tokyo Electron dripped 1-2 percent. Seoul stocks fell the most in the region, a day after the Bank of Korea surprised markets with an interest-rate cut, citing slower-than-expected economic growth. An increasingly tense geopolitical environment on the Korean Peninsula also weighed on investors' risk appetite, sending the benchmark Kospi down 1.95 percent to 2,455.91. Australian markets finished marginally lower and bond yields fell across the curve as Reserve Bank Governor Michele Bullock warned of prolonged restrictive monetary policy, saying inflation is "too high" to consider interest-rate cuts. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index inched up 0.10 percent to close at 13,066.92. U.S. markets were closed Thursday for the Thanksgiving holiday and will open for half a day today.