Asia markets were largely positive on Friday, amid gains in Japan's Nikkei 225 which led the index to its highest intraday level in almost 27 years.

The closed higher by 1.36 percent at 24,120.04, with most sectors advancing. In the morning, the index saw its highest intraday levels since November 1991.

The moves in Japanese stocks came after the release of data that showed the country's unemployment rate fell 0.1 percent from the previous month to 2.4 percent. The country also saw an increase in its month-on-month industrial output in August, while retail sales in August was higher as compared to a year earlier.

In the Bank of Japan's release of its summary of opinions for its meeting earlier in September, the central bank said "the contrast between the favorable U.S. economy and other economies is becoming more evident, mainly reflecting U.S. trade policy, and uncertainties regarding their outlook have been heightening as well."

South Korea's Kospi index slumped by 0.52 percent to close at 2,343.07, with shares of Korea Aerospace Industries plunging by 29.8 percent, following the company's failed bid to build the U.S. Air Force's next training aircraft.

In the the Greater China region, Hong Kong's Hang Seng index lost its earlier gains to trade at 27,721.79 at 3:30 pm HK/SIN. Over on the mainland, the Shanghai composite climbed higher by 1.06 percent to close at around 2,821.35 while the Shenzhen composite closed higher by 0.835 percent to end the trading week at about 1,441.54.

The Caixin Purchasing Managers' Index for China's manufacturing sector for September is scheduled to be released on Sunday.

According to estimates by Reuters, it is expected to come in at 50.5 points for September — below 50.6 points in August. A reading above 50 indicates expansion, while a reading below that signals contraction.

Down Under, the ASX 200 rose by 0.43 percent to close at 6,207.6.