Hong Kong shares rose 0.6 percent and Taiwan shares rose 0.8 percent, helping to boost MSCI's broadest index of Asia-Pacific shares outside Japan 0.4 percent.
In early Monday trade, the dollar fell 0.7 percent against the yen to 113.86 yen, edging towards its seven-week low of 112.57 yen touched on Wednesday.
Investors were hoping for commentary on the new administration's plans for fiscal stimulus and tax cuts.
Japan's Nikkei stock index rose 0.4 percent, on track to shed 1.2 percent for the week.
MSCI's broadest index of Asia-Pacific shares outside Japan up 0.1 percent in early trade, and Australian shares at a 1-1/2-year high.
The decline pulled the Dow Jones industrial average further away from the 20,000 mark after it nearly breached that level this week for the first time.
Representatives of some firms said they were reticent to discuss the parties because they have tried to keep such events out of the news since the financial crisis.
The yuan opened at 6.9350 per dollar, its weakest since June 2008.
US stocks fell in volatile trading after the Federal Reserve raised interest rates by a quarter point and signalled hikes could come next year at a faster pace than some expected.
Analysts said that signs the ECB would continue to provide monetary support for as long as needed complemented the promise of fiscal stimulus in a welcome cocktail for investors.
Retailers, including Best Buy, Kohls Corp and Macy's, that were pummelled in last year's disappointing holiday quarter have seen their shares surge recently on expectations that the worst is over, and that an improved economy will send more shoppers into their stores.
The S&P 500 consumer staples index's 0.8% gain boosted shares on Black Friday, which traditionally kicks off the US holiday shopping season.
The S&P 500 consumer staples index rose 0.7 per cent, giving the biggest boost to the broader index. That was followed by the consumer discretionary sector, which gained 0.3 per cent.
The Nasdaq Composite was little changed, weighed down by tech giants Apple, Facebook and Microsoft.
Wall Street had closed lower for nine days in a row through Friday, its longest losing streak in more than 35 years.
Investors had been unnerved in recent days by signs of a tightening presidential race, preferring what is seen as a known quantity in Hillary Clinton, over the political wild card, Donald Trump.
Hillary Clinton and Donald Trump are in a dead-heat in major polls on the final weekend before the presidential election that has the world on edge, with the two rival candidates and their surrogates scrambling through key battleground states that could prove decisive on Tuesday.
The market is also watching the outcome of the U.S. Federal Reserve meeting, which begins on Tuesday.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.14 percent in early trades, its lowest levels in since Sept. 19. October marked the first monthly loss for the index since May.