Asia stocks close mixed amid U.S. fiscal concerns; Nikkei surges 2.2%

Investing.com - Asian stock markets were mixed at market close on Friday, as concerns over U.S. fiscal policy continued to weigh on market sentiment, while expectations for further easing measures by the Bank of Japan boosted Japanese stocks.

During late Asian trade, Hong Kong's Hang Seng Index added 0.11%, Australia’s ASX/200 Index fell 0.29%, Japan’s Nikkei 225 Index surged 2.2%.

Investors remained concerned over the looming "fiscal cliff" in the U.S., approximately USD600 billion in automatic tax hikes and spending cuts due to come into effect on January 1.

In the minutes of its October policy meeting, the Federal Reserve said on Wednesday that it may need to expand its monthly purchases of bonds next year, after the expiration of a program to extend the maturities of assets on its balance sheet, known as Operation Twist.

Markets were also jittery after the release of disappointing U.S. data on Thursday added to concerns over the strength of the country's economic recovery.

In Tokyo, the Nikkei rallied after Japan's main opposition leader and possible next prime minister, Shinzo Abe, said that the upcoming election would be about which party could boost a stagnant economy.

Mazda Motor soared 7.08%, thanks to a weaker yen and a bullish note from J.P. Morgan.

PGM Holdings, Japan's number 2 golf course operator, was also on the upside, with shares rallying 8.26% amid reports the company plans to launch a tender offer to win control of bigger rival Accordia Golf.

Meanwhile, shares in Hong Kong edged higher.

China Mobile was one of the session's top gainers, with shares rising 0.89%, while Hong Kong & China Gas saw shares advance 2.85%.

On the downside, global supply chain manager Li & Fung tumbled 4.82% after one of its major clients, Wal-Mart posted disappointing quarterly sales on Thursday.

Elsewhere, Australian trended lower, weighed by losses in banking and mining stocks.

Australia and New Zealand Banking dropping 1.62%, while Commonwealth Bank Australia and Westpac Banking declined 0.70% and 0.89% respectively.

Mining giant Rio Tinto saw shares edged up 0.14% on the other hand, while rival BHP Billiton retreated 0.57% and Whitehaven Coal plunged 1.79% after the company announced a decision to scale back its business development unit and Brisbane presence.

Looking ahead, European stock futures pointed to higher open, as attempts to reach a new bailout deal for Greece continue.

The EURO STOXX 50 futures pointed to a 0.08% rise, France’s CAC 40 futures added 0.15%, London’s FTSE 100 futures inched up 0.07%, while Germany's DAX futures pointed to a 0.04% gain.

Later in the day, the euro zone was to release official data on the current account.

The U.S. was to produce official data on the capacity utilization rate and industrial production, as well as a report on the balance of domestic and foreign securities purchases.