Asian Markets Surge on Wall Street Rally and Falling Oil Prices

Asian markets mostly rose in early trading on Friday, fueled by a rally on Wall Street and declining oil prices. Japan's benchmark Nikkei 225 index climbed 1.4% to 65,000.72 after the Bank of Japan raised its key interest rate to 1.25%, a 31-year high.

The move was widely expected, following the Federal Reserve's decision to raise its own key rate earlier in the week. The US has been pressing Japan to increase rates due to concerns about the weakening yen, which has led to joint intervention efforts between the two nations.

Despite these efforts, the yen remains under pressure, with the US dollar reaching 157.23 Japanese yen from 155.95 yen earlier in the day.

The S&P 500 index rose 1.1% for its second gain in nine days, while the Dow Jones Industrial Average added 316 points, or 0.6%. The Nasdaq composite climbed 1.7%, as falling oil prices and easing bond market pressure helped Wall Street recover from losses.