The benchmark Philippine stock index was the biggest gainer in the region, boosted by financials and industrials. BDO Unibank climbed 3.7 percent and SM Investment Corp added 2.5 percent. Philippine shares advanced 1.1 percent this week in their fifth consecutive weekly gain.
"Foreign buying in the Philippines has been consistent over the last few weeks, and for today the biggest driver would be foreign inflows towards emerging markets," said Charles William Ang, an analyst with COL Financial Group.
Foreign investors bought net 1.02 billion pesos ($19.54 million) worth shares on Friday and 5.75 billion pesos this week, according to Refinitiv data.
Investors now await January inflation data and the central bank's monetary policy review due next week. Inflation had cooled more than expected in December, reinforcing views that the central bank is done raising interest rates.
Thai shares rose 0.6 percent on Friday, after data showed January's headline inflation rate was below the central bank's target range of 1-4 percent for a third straight month.
The central bank will review borrowing rates next week. The central bank governor had said in January that the country's accommodative monetary policy is still needed to support the economy.
PTT gained 2 percent, while Airports of Thailand climbed 1.5 percent.
Indonesian shares closed 0.1 percent higher after rising as much as 0.8 percent earlier, as losses in telecom stocks offset gains in financials. Indonesian shares gained 0.9 percent for the week, marking their sixth straight weekly rise.
Bank Rakyat Indonesia (Persero) rose 1.8 percent to close at a record high, while Charoen Pokphand Indonesia jumped 4.4 percent.
Indonesia's annual consumer inflation in January slowed more than expected, data from the statistics bureau showed. The Malaysian stock market was closed for a holiday.