Asian Markets Surge on Wall Street Rally and Falling Oil Prices

Asian markets mostly rose in early trading on Friday, boosted by a rally on Wall Street and declining oil prices. Japan's benchmark Nikkei 225 gained 0.8% to 64,662.11, while South Korea's Kospi jumped 2.1% to 6,856.35.

The S&P/ASX 200 in Australia rose nearly 0.1% to 8,738.50, and Hong Kong's Hang Seng edged up 0.8% to 24,766.66. The Shanghai Composite added nearly 0.8% to 3,905.34.

Falling oil prices helped Wall Street reverse many of its losses from the prior day, with the S&P 500 rising 1.1% for just its second gain in nine days. The Dow Jones Industrial Average added 316 points, or 0.6%, and the Nasdaq composite climbed 1.7%.

The Federal Reserve's decision to raise interest rates by a quarter of a percentage point on Wednesday may have contributed to the market's optimism, as it signals a commitment to getting inflation back under control.