Nikkei bounces 1.1%
Japan's Nikkei 225 index turned positive to reclaim the 18,000-point mark. The Tokyo bourse had finished under the level for the first time since October 2 in the previous session.
A tick down in dollar-yen probably encouraged risk appetite for exporters, with blue chips such as Toyota Motor and Sony paring earlier declines to rise 0.9 and 1.6 percent respectively.
Counters which came under pressure due to their heavy exposure to China, also recovered their footing. Fast Retailing, owner of clothing brand Uniqlo, advanced 0.3 percent, while steel producers JFE Holdings and Nisshin Steel bounced over 1 percent each.
Bucking the trend, shares of Asahi Kasei tanked 13 percent on the back of news that its subsidiary performed faulty installation of a portion of foundation piles in work for a Yokohama apartment complex, Reuters reported.
ASX gains 0.6%
Australia's S&P ASX 200 index snapped a three-session losing streak, as the key resources sector enjoyed some reprieve following a sharp sell-off in previous sessions.
BHP Billiton and Rio Tinto rallied 1.8 and 2.3 percent respectively, while Fortescue Metals elevated nearly 6 percent on the back of news that the miner's production costs were beating its fiscal 2016 target.
Evolution Mining rocketed as high as 10 percent before trimming gains to 6.7 percent, as gold prices hit a three-and-a-half-month peak overnight. Newcrest Mining and Kingsgate Consolidated closed up 5.6 and 3 percent respectively.
Energy producers also recovered some lost ground, with shares of Oil Search and Santos up 3.6 and 2.7 percent respectively.
A string of corporate news released before the market open were also eyed. Insurance Australia Group (IAG) piled on 6.8 percent on the back of news that it plans to pause further investments in China. A statement released by the insurer on Thursday said that IAG will be pursuing "further growth opportunities in other Asian markets and our core businesses in Australia and New Zealand."
Australia and New Zealand Banking Group (ANZ), which said it will be selling its New Zealand medical insurance business to NIB NZ, slipped 0.3 percent.
On the domestic data front, Australia lost 5,100 jobs in September, a modest miss from forecasts of a 5,000 rise, but unemployment held steady at 6.2 percent. The Australian dollar softened by a quarter of a U.S. cent following the data, but has since recovered to trade at $0.7347 versus the dollar.