New Zealand shares advanced Friday, while Asian shares were mixed as investors awaited the US payrolls report and how it will affect the US Federal Reserve's monetary policy view.

The S&P/NZX 50 Index rose 0.5%, or 57.60 points, to close at 12,902.19.

This pared the benchmark index's losses over the past five days to 0.7%.

Electronic technology stocks led Friday's increase, followed by non-energy minerals and finance. In contrast, process industries, consumer durables, and retail trade posted the largest falls.

Asian equities were mixed, with the Shanghai SSE and Hong Kong's Hang Seng up 1.3% and 1.5%, respectively, while Japan's Nikkei 225 lost 0.5%.

Overnight, the Nasdaq Composite advanced 0.5%, the S&P 500 grew 0.4%, and the Dow Jones Industrial Average shed 0.3%.

The US jobs report for January is slated for release later in the day, with markets looking for clues on the Fed's policy path.

In domestic news, the New Zealand government has opened its fast-track application portal, allowing select projects to skip the traditional process in securing regulatory approvals.

In corporate news, Channel Infrastructure (NZE:CHI) expects a NZ$375 million uplift in asset valuation, driven by a revaluation of its Import Terminal System and surplus land. This raised the company's net tangible assets per share by NZ$0.73, per a filing. The company's shares finished marginally lower after hitting a five-year high earlier in the day.

Manawa Energy (NZE:MNW) tumbled past 8% even after it stressed confidence in the merits of Contact Energy's (NZE:CEN, ASX:CEN) planned takeover in the wake of concerns raised by New Zealand's competition watchdog.