The mood heading into the weekend was further helped by a better-than-expected third-quarter guidance from Samung Electronics, the world's biggest maker of memory chips and liquid crystal displays by sales and a barometer for the sector in Asia.
Regional currencies advanced on a rebound in risk appetite, with copper rising more than 1.0% and the Korean won hitting a near one-week high against the U.S. dollar.
"Policy makers have seemingly all of a sudden come to life this week in Europe, with the liquidity injection measures serving to instill a sense of calmness to the market," said Tim Waterer, a senior foreign exchange dealer at CMC Markets.
Markets welcomed news Thursday that the ECB will help lessen the strain on European financial institutions by resuming its purchase of covered bank bonds in November and holding two separate tenders of yearlong refinancing to euro-zone banks. Hong Kong's Hang Seng Index gained 3.5% and South Korea's Kospi rose 3.0% -- both tapping one week highs. Japan's Nikkei Stock Average was up 1.4%, Australia's S&P/ASX 200 rose 2.5% and India's Sensex was up 3.5%. China's markets were closed for a holiday.
Dow Jones Industrial Average futures were down nine points in screen trade.
Samsung Electronics rose 2.2% in Seoul after the company provided above-view third-quarter earnings guidance, likely buoyed by record profit from its mobile business. Samsung tipped a 13.6% on-year decline in operating profit, which was better than the market consensus for a 31% on-year decline. Samsung's outlook boosted other electronics shares in Korea; LG Display rose 3.9%, and Hynix Semiconductor advanced 1.7%.
Shares in Tokyo sustained early gains as the Bank of Japan pledged to continue efforts to lift its economy. Exporters were mostly higher led by Toshiba, up 6.3% and Nissan 3.6% higher.
The central bank kept its policy rate in a 0.0%-0.1% range, as expected, and said it will extend by six months until the end of March 2012 the application period for its special lending program.
Regional financial stocks and growth-sensitive plays were broadly higher as concerns over European banks eased following the expansion of the ECB's liquidity operations. In Sydney, ANZ bank rose 3.0% and Rio Tinto jumped 4.6%, while Woori Finance holdings climbed 4.4% in Seoul, and in Tokyo, Mitsubishi UFJ Financial rose 1.8% and Toyota Motor advanced 1.4%.
In foreign exchange markets, the euro was treading water against the U.S. dollar after Thursday's rise following the ECB action, and as investors awaited the key U.S. September non-farm payrolls report later Friday. Traders expect the U.S. jobs report, which will be watched for signs the ailing U.S. economy is on the mend, will influence currency markets.
"A stronger-than-expected (non-farm payrolls) could trigger one more round of short covering that could take the euro to $1.3682," said MF Global in a research note.
The single currency was at $1.3427 against the dollar, from $1.3438 late Thursday in New York, and at ¥102.90 against the yen, from ¥103.09. The dollar was at ¥76.62, from ¥76.72.
Spot gold was at $1,663.90 per troy ounce, up $13.60 from its New York settlement Thursday. November Nymex crude oil futures were up 31 cents at $82.90 per barrel on Globex.
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