Asian shares advanced Friday after most U.S. stocks rose as the Federal Reserve cut interest rates again to ease pressure on the economy. Oil prices fell while U.S. futures edged higher. Regional investors were watching for much-anticipated steps by Beijing to rev up the slowing Chinese economy as the top body of the national legislature wrapped up a meeting this week.

HONG KONG ― The Hong Kong Monetary Authority (HKMA) on Friday cut by 25 basis points its base rate charged via the overnight discount window, to 5.0 percent, tracking a move by the US Federal Reserve (Fed).