China's stimulus scheme for consumer goods trade-ins boosted last year's consumption growth by more than 1 percentage point, Vice Commerce Minister Sheng Qiuping said on Friday, as authorities steer expansion of the plan this year.

Most Asian stocks rose on Friday tracking record highs on Wall Street and optimism over more policy relief for China, while Japanese markets trimmed some gains after the Bank of Japan hiked rates and struck a hawkish chord.

Oil prices were little changed on Friday but headed for a weekly decline after U.S. President Donald Trump issued a sweeping plan to boost U.S. production and demanded OPEC lower crude prices.

The yen rose after the Bank of Japan hiked rates on Friday and revised up its inflation forecasts, while the dollar touched a one-month low after U.S. President Donald Trump suggested a potentially softer stance on tariffs against China.

Singapore's key consumer price gauge rose 1.8% in December from a year earlier, more than economist forecasts and the lowest in more than three years, official data showed on Thursday.

Japanese exports rose for a third successive month in December as a weak yen boosted the value of shipments, data showed on Thursday, though a decline in volume underscored doubt about an outlook clouded by the unpredictability of U.S. trade policy.