Chinese benchmark ends marginally higher

Asian stocks ended mixed in lackluster trading on Friday despite the leaders of the U.S. and China agreeing to further talks aimed at reaching a deal.

U.S. President Donald Trump described a phone call with his Chinese counterpart as very good and said it resulted in a very positive conclusion for both countries.

Traders also reacted to a hawkish ECB rate cut and braced for a soft U.S. employment report later in the day for additional clues on the Fed's rate trajectory.

Economists expect U.S. employment to increase by 130,000 jobs in May after an increase of 177,000 jobs in April. The unemployment rate is expected to hold at 4.2 percent.

Gold prices inched higher in Asian trade and headed for a weekly gain as the U.S. dollar faced a weekly loss amid signs of economic weakness and stalled trade talks.

Oil dipped but headed for its first weekly gain in three as optimism over peak seasonal demand offset lingering concerns about oversupply.

China's Shanghai Composite index finished marginally higher at 3,385.36 while Hong Kong's Hang Seng index fell 0.48 percent to 23,792.54 as Trump's phone call left key issues unresolved.

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