HONG KONG: Asian markets mostly climbed on Friday after the European Central Bank said it would keep interest rates at record lows for "as long as necessary", while concerns over Portugal's political crisis also abated.
The euro remained under pressure in Asia after suffering losses late Thursday in the wake of the ECB announcement, while the dollar extended its gains against the yen after climbing back above 100 yen.
Tokyo rose 2.08 percent, or 291.04 points, to 14,309.97 and Sydney was 0.98 percent, or 47.0 points, higher at 4,841.7, while in the afternoon Hong Kong added 1.67 percent and Shanghai was up 0.23 percent.
Seoul eased 0.32 percent, or 5.83 points, to 1,833.31 as market giant Samsung Electronics suffered a sell-off after announcing a weaker-than-expected earnings forecast.
With New York markets closed for Independence Day, traders took their lead from Europe, where markets rallied on comments from the ECB that it would maintain its easy monetary policy.
The bank's policy-setting governing council "expects the key ECB interest rates to remain at present or lower levels for an extended period of time", its head, Mario Draghi, said.
"Our exit (from low interest rates) is very distant."
Speaking to a news conference after the ECB's governing council voted to hold its key interest rate at an all-time low of 0.50 percent for the third month in a row, Draghi vowed that "monetary policy will remain accommodative for as long as necessary".
At the same time the Bank of England said it would keep interest rates low and hinted it would not lift them in the short term.
London's FTSE 100 rose 3.08 percent, the DAX 30 in Frankfurt added 2.11 percent and the Paris CAC 40 gained 2.90 percent. Madrid was up more than 3.0 percent.
On forex markets the euro tumbled in London trade, with low interest rates meaning the currency would not provide very good returns.
And on Friday it continued to fall, buying $1.2895 and 129.30 yen, off from $1.2922 and 129.62 yen in London.
Worries about Portugal's future were also soothed after the centre-right coalition said it had found a "formula" to avert a break up of the government, after the shock resignation of the foreign and finance ministers.
The pair had stepped down in a dispute over austerity policies put in place as part of a deal to qualify for bailout cash.
The dollar, which has been buoyed by an improved global outlook, rose to 100.23 yen in Tokyo, compared with 99.71 yen in London late Thursday.
Eyes will later Friday turn to Washington, awaiting the release of non-farm payroll data, which will provide an idea of the state of the US economy.
In Seoul, electronics giant Samsung fell 2.81 percent after estimating 9.5 trillion won ($8.3 billion) in operating profit for the April-June quarter.
While it said the figure would be a record, analysts had expected a figure of more than 10 trillion won after it released its much-vaunted Galaxy S4 smartphone in April.
"Demand for high-priced, high-end smartphones shows slowing growth, which could hurt Samsung's profit margin," IBK Investment and Securities analyst Lee Seung-Woo told the Yonhap news agency.
Oil prices were lower on profit-taking after rallying recently on events in Egypt. Dealers are keep tabs on events in the country after the army overthrew President Mohamed Morsi, with fears growing that the coup could send shockwaves through the crude-rich Middle East.
In afternoon trade New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in August, was down 15 cents at $101.09 a barrel in afternoon trade, while Brent North Sea crude for August fell eight cents to $105.46.
Gold was at $1,242.15 per ounce at 0630 GMT, compared with $1,250.80 late Thursday.
In other markets:
-- Taipei rose 1.37 percent, or 108.1 points, to 8,001.82.
Taiwan Semiconductor Manufacturing Company rose 1.87 percent to Tw$109.0 while smartphone maker HTC was 1.0 percent higher at Tw$203.0.
-- Wellington rose 0.69 percent, or 30.91 points, to 4,489.86.
Chorus added 1.9 percent to NZ$2.63 and Fletcher Building gained 1.5 percent to NZ$8.62.
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