Asian equity markets posted an upbeat performance on the final trading day of the week, tracking a global rally after the European Central Bank (ECB) unleashed a 1 trillion euro ($1.11 trillion) stimulus package to resuscitate the deflation-hit euro zone.
"The ECB has set the ticker boards alight across the globe with investors responding favorably to another central bank deploying more stimulus," Stan Shamu, IG market strategist, wrote in a note. "Having disappointed on a number of occasions in the past, it was important for [governor] Mario Draghi to get it right this time."
Overnight, U.S. stocks extended gains into a fourth session, on the back of the ECB's larger-than-expected easing measures and upbeat quarterly earnings from companies including Southwest Airlines. Both the Dow Jones Industrial Average and S&P 500 gained 1.5 percent, while the tech-heavy Nasdaq piled on 1.8 percent.
In Europe, the pan-European FTSEurofirst 300 closed 1.6 percent higher - its highest closing level since early 2008 - on Thursday, according to Reuters.
Markets also digested news that Saudi Arabia's King Abdullah has died early Friday, making his brother Salman king of the oil-rich nation. U.S. crude jumped nearly 2 percent to $47.15 a barrel in early Asian trade after the news broke, while Brent gained 1.9 percent to hit $49.43 a barrel.