Asian Markets Rally on Lower Yields and Easing Crude

Asian stock markets closed mostly higher on Friday following overnight gains in Wall Street. The rally was driven by softer US Treasury yields and easing crude oil prices, which helped offset hawkish signals from the Federal Reserve's recent interest rate hike of 25 basis points.

The BOJ, Japan's central bank, also lifted its benchmark interest rate, which contributed to the positive market sentiment. However, it is worth noting that not all markets participated in the rally, with some experiencing mixed results.

The iShares China Large-Cap ETF (FXI) was among the assets that saw gains, while other major indices like the Shanghai Composite Index and the Hang Seng Index also rose.