Asian Market Update

Asian markets rallied on Thursday with investors rushing back after a recent sell-off, spurred by a Wall Street recovery and an indication from the US Federal Reserve that interest rates will not likely rise until mid-2015.

While bank policymakers were reticent to give a firm date, their language indicated a change in tack, which analysts said suggested a rise in the first six months of the year. That lit a fire under the dollar.

Easing concerns about Russia's economy and a pick-up in oil prices also provided support to regional shares, with bargain-buyers making their move.

Tokyo surged 2.37 per cent as the greenback advanced against the dollar.