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Nikkei Climbs 5.88 Percent as Asia Markets Surge

Asian markets surged Friday, with major indexes posting over 1 percent gains each, tracking the rally in European and U.S. equities overnight.

In Japan, the Nikkei jumped by 941.27 points, or 5.88 percent, to 16,958.53. Despite the surge, the index remains down 18.73 percent from the 52-week closing high set in June 2015.

Across the Korean Strait in Seoul, the Kospi closed up 38.90 points, or 2.11 percent, at 1,879.43.

Down Under, the ASX 200 index added 50.39 points, or 1.04 percent, to close at 4,914.40, buoyed by sharp gains in the energy and materials sectors, up 3.83 and 2.98 percent respectively.

China's Shanghai composite and Shenzhen composite indexes retraced losses in the afternoon to close higher. The Shanghai composite tacked on 36.12 points, or 1.25 percent, to finish at 2,916.60, while the Shenzhen added 26.34 points, or 1.46 percent, to 1,827.33.

Hong Kong's Hang Seng index advanced 2.90 percent.

FROM JAN. 21: Markets open up slightly Thursday morning, after worst start to year ever 2:08