Japan's nominal wages rose at the fastest pace in 32 years, but real wages were flat in October, highlighting challenges for economic growth in the current year. Real household spending declined amid rising costs of living.

The Hang Seng index extended weekly gains to over 2%, the best performance in the last two months, as investors held out for additional stimulus next week.

After a week of political maneuvering, the three-party coalition finalized the selection of chief minister in Maharashtra. Financial markets struggled to advance ahead of the RBI's rate decisions on Friday. 

Japan's benchmark indexes struggled to stay above the flatline amid a lack of catalysts and ahead of rate decisions by the central banks in two weeks.

China and Hong Kong investors overlooked rising trade tensions with the U.S. and Europe and shifted their focus to an upcoming meeting of policymakers later in the month.

Benchmark indexes in India extended the market rally to the fourth day amid steady domestic fund flows. Crude oil prices hovered near an 18-month low amid weak demand growth from key customers in Asia.

The exclusion of Japanese companies in the latest and expanded trade restrictions with China powered a stock market rally in Tokyo.



The Chinese yuan drifted to a 17-year low, pressured by lackluster economic growth, ongoing property market malaise, and weak consumer sentiment. 

The Reserve Bank of India is likely to hold rates at the end of its policy meeting in December. Stock market indexes advanced in the hopes of a recovery in the second half of the financial year. 

Strong gains in technology and banking stocks supported the reversal in market indexes in Tokyo. Capital spending in the third quarter accelerated, boosted by strong domestic demand.

China's manufacturing sector activities advanced for the second month in a row, according to two surveys. Non-manufacturing activities, which include the service sector and the construction sector, were stable in November. Foreign direct investment in the ten-month period to October fell by nearly 30%.

Second quarter GDP fell short of expectations set by the Reserve Bank of India, but economic activities are expected to pick up in the second half of the current fiscal year.

Stock market indexes in China and Hong Kong declined for the second consecutive month in November. Electric vehicle makers and solar panel companies were among the worst decliners amid rising trade barriers to the European Union and the U.S.

Japanese stock market indexes extended losses for the week and for the month after the yen strengthened following higher-than-expected inflation in November. Retail sales, unemployment rate, and industrial production matched expectations laid out by the Bank of Japan.



Stock market indexes in India trimmed weekly losses following a rebound in Friday's trading. Falling urban consumer spending and rate path uncertainty have dented the market index over the last two weeks.