Asian shares rose on Friday following liquidity boosting measures from China and after Scottish voters decided against independence.
Late on Thursday, the People's Bank of China (PBOC) cut the 14-day repo rate by 20 basis points to 3.5 percent to ease short-term borrowing costs for banks. Traders also said the PBOC injected $1.3 billion into money markets this week. The move comes days after the PBOC was believed to have pumped $81 billion into China's top five banks.
In Scotland, the majority of voters chose to remain in the United Kingdom, sending sterling to a two-year high against the euro and a more than two-week high against the greenback.
Focus was also on Alibaba's market debut later in the day. The e-commerce firm priced its initial public offering (IPO) at $68 per share on Thursday, the top of the expected range.
"The biggest market volatility events of 2014 are almost over. The FOMC (Federal Open Market Committee) was yesterday, Scotland voting for independence is today and Alibaba, with its mass market interest, is tonight," said Evan Lucas, market strategist at IG.