According to RTHK, HKET and Sina Finance, Asian equity trading was thinned by holidays on Friday, with Seoul closed for Chuseok and mainland China and Taiwan shut for the Mid-Autumn Festival, leaving Tokyo and Hong Kong as the region's active large markets amid a global bond selloff that lifted long-dated U.S. yields to multi-decade highs.

Tokyo's Nikkei 225 pushed higher, trading at 66,227.65, up 713.66 points or 1.09%, as of 04:33 UTC in the afternoon session. The benchmark opened up about 125 points at 65,639 and was more than 800 points firmer at one point before the lunch break, with memory and chip-related names among the leaders.

Hong Kong stocks fell, with the Hang Seng Index down 417 points or 1.69% at 24,343.19 at the midday close on turnover of HK$59.15 billion, while the Hang Seng Tech Index dropped 2.1% to 4,267. Southbound Stock Connect flows were absent with the mainland on holiday. The Xi-Trump summit failed to lift sentiment. Tech names weakened, with Kuaishou, Xiaomi and NetEase each off more than 3% and JD.com down close to 3%. Property developers slid, with Sunac China down more than 6%, and power-equipment shares fell, Shanghai Electric losing more than 5%. Bucking the trend, biotech gained: Genscript Biotech rose more than 8% and WuXi Biologics and WuXi AppTec added about 2% each, while Lenovo advanced more than 1%.

South Korea's KOSPI and KOSDAQ were closed for the Chuseok holiday, and Taiwan's TAIEX was shut for the Mid-Autumn Festival; both resume next week.

Mainland China's markets — the Shanghai Composite, Shenzhen Component and CSI 300 — were closed for the Mid-Autumn Festival holiday and did not trade.