The index was the best performer in the region, Reuters reported, rising 1.3% to edge closer to a 25-year peak of 23,382 points set last month.

The S&P/ASX 200 closed up 0.7% and lithium stocks featured - developer Pilbara Minerals (AU:PLS) soared more than 12% and producer Orocobre (AU:ORE) rose almost 7% on news of an expected 25% increase in lithium carbonate prices for the first half of 2018.

Orocobre said it had finalised contracts for about 85% of its first-half production and tight market conditions prompted its positive expectation above December half prices.

"Contract prices are rising in all markets and we expect this to continue in the foreseeable future as new demand for lithium chemicals exceeds new supply," managing director and CEO Richard Seville said.

There was a positive move in base metal prices across the board in London on Friday and 62% iron ore rose back above US$70 to $71.50 per tonne, according to the Metal Bulletin.

Among the majors, Rio Tinto (LN:RIO) had closed up 1.75% in London, Vale (BZ:VALE5) rose 1.79% and BHP (AU:BHP) gained more than 1.9% in Australian trade today.