Asia ends the week mixed, Nikkei 225 climbing into 22,500

• Asia equities result in a mixed bag as softening Chinese industrial profits soften significantly, but the Nikkei clears into fresh highs.
• BoJ outlook tows the line, no sign of tightening or rising rates on the horizon leave equities free to climb in Japan.

Asia equities finished off the week on a mixed note, with Japan's Nikkei 225 lifting steadily through the day and continuing to lift into 22,500, while China shares ended lower following a miss for Chinese industrial profits.

China industrial profits rise 3.1 percent y/y in March

Chinese industrial producers saw their profits grow by an average of 3% in March, a significant decline from the previous reading of 10.8%, and China's Shanghai Composite index ended the day off by 0.45%, while the Hong Kong Hang Seng lifted by 0.39%.

MSCI's Asia-Pacific share index excluding Japan also ended the day up by 0.40%, but still faced a decline on the week of 1.2%, while Japan's Nikkei cleared 0.5% on the day.

China: Moderation in industrial profit growth resumes in March – Nomura

Nikkei Levels to watch

Japan's leading equity index is trading back into two-month highs and has begun to grind through February's steep sell-off that saw the equity index tumble from a record high of 24,186.00, and the Nikkei will now have to face resistance from February's last swing high of 22,500.00 before challenging December's highs near 22,990.00, with support coming from March's high around 22,100.00 and the 200-day SMA at 21,570.00.