Asian Markets Finish Strong on Wall Street Rally, Slumping Oil Prices

Asian shares ended the week on a positive note, buoyed by the rally on Wall Street and declining oil prices. The Nikkei 225 in Japan gained 1.4% to finish at 65,018.95 after the Bank of Japan raised its benchmark interest rate to 1.25%, a 31-year high.

The move was widely expected following the Federal Reserve's decision to raise its key rate earlier this week. The pressure on Japan to hike rates has been increasing due to concerns about the weakening yen, with the nation intervening recently to prop up the currency.

Oil prices also contributed to the positive sentiment, with Brent crude losing 2.15% to $102.57 a barrel and US crude slipping 1.92% to $99.95 a barrel. The decline in oil prices has eased pressure on Wall Street shares, which have been supported by falling bond yields.