Asian Market Update : Epic Research Singapore

Asian equity markets rallied Friday after the European Central Bank announced a huge cash injection to kickstart the eurozone economy, while crude prices surged on news that the monarch of oil kingpin Saudi Arabia had died.

The ECB's unprecedented decision to pump tens of billions of dollars a month into financial markets sent the euro plunging to 11-year lows against the dollar and also fuelled a buying spree in US and European stock markets.

Hong Kong added 1.41 per cent, Shanghai gained 0.69 per cent, Sydney added 1.35 per cent and Seoul was 0.87 per cent higher. Tokyo jumped 0.84 per cent by the break.

After a much-anticipated policy meeting Thursday ECB chief Mario Draghi said it would buy 60 billion euros a month of private and public bonds from March until September 2016. Analysts had forecast 50 billion euros.

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