China's Shanghai Composite index edges up by 0.34%

Asian stocks turned in a mixed performance on Friday as China industrial profits data disappointed and China Vanke proposed to delay repayment of an onshore bond, rekindling worries about China's property market.

Tech stocks led losses after Taiwan raided homes belonging to an Intel vice president as part of an investigation into alleged trade secret leaks to U.S. chipmaker Intel.

Gold was on track for its fourth monthly gain as the dollar weakened amid investor optimism that the Federal Reserve will cut interest rates in December.

Oil headed for the longest run of monthly losses in more than two years on oversupply concerns.

China's Shanghai Composite index edged up by 0.34 percent to 3,888.60 after JPMorgan Chase & Co. raised its recommendation for China's stocks to "overweight," citing multiple positive drivers.

Hong Kong's Hang Seng index slipped 0.34 percent to 25,858.89. Alibaba Group Holding shares rose 0.6 percent after the company launched its Quark AI-powered smart glasses in China, marking a major step into consumer AI hardware.

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