Summary The dollar held on to its recent gains.
HONG KONG (AFP) - Asian markets rose Friday as bargain-hunters moved in after the previous session s heavy losses, with investors taking a lead from Wall Street and a positive batch of US data.
The dollar held on to its recent gains after the head of the Federal Reserve on Wednesday hinted that US interest rates could be hiked early next year, sooner than analysts had expected.
Sydney climbed 0.83 percent, or 44.1 points, to 5,338.1 and Seoul gained 0.80 percent, or 15.42 points, to close at 1,934.94 while in the afternoon Hong Kong added 1.00 percent and Shanghai surged 2.50 percent after big losses Thursday.
Tokyo was closed for a public holiday.
Global markets skidded after Janet Yellen told a news conference that a rate rise could come "around six months" after the bank s stimulus programme ends. Economists took that to mean an increase in borrowing costs in the first half of 2015. They had forecast a hike in the latter part of the year.
However, US shares enjoyed a bounce on Thursday from a string of upbeat data.
The Labor Department released figures showing initial claims for jobless benefits were lower than expected last week, while the Philadelphia Federal Reserve s March manufacturing activity index beat forecasts.
Also, the Conference Board s leading economic index for February came in above expectations, while US existing-home sales for February met expectations.
The Dow rose 0.67 percent, the S&P 500 advanced 0.60 percent and the Nasdaq added 0.27 percent.
On forex markets, the dollar maintained its strength after rallying in response to Yellen s remarks.
The euro fetched $1.3785 against $1.3779 in New York late Thursday, while the greenback also bought 102.36 yen compared with 102.42 yen. It had been sitting at $1.3930 to the euro and 101.51 yen before the rate remarks.
The euro fetched 141.13 yen from 141.14 yen.
Oil prices slipped. New York s main contract, West Texas Intermediate for May delivery, tumbled 58 cents to $98.32 a barrel and Brent crude for May dipped 35 cents to $106.10.
Gold fetched $1,332.80 an ounce at 0630 GMT compared with $1,325.28 late Thursday.
In other markets:
-- Taipei slipped 0.23 percent, or 20.16 points, to 8,577.17.
Acer rose 0.85 percent to Tw$17.8 while Formosa Plastics dropped 1.08 percent to Tw$73.0.
-- Wellington fell 0.69 percent, or 35.40 points, to 5,124.99.
Telecom was down 0.63 percent at NZ$2.375 and Mighty River Power slipped 0.47 percent to NZ$2.10.
