Most Asian markets open with positive note, Oil price rebounded

Rebounding oil prices and dovish comments from the President of the European Central Bank (ECB) helped stock in Japan to open sharply higher Friday.

The benchmark Nikkei 225 has risen 3.12% to 16,516.65 since the open.

The Shanghai Composite index was 0.11% higher at 2,883.68 at the open, while the Shenzhen Composite index was 0.40% lower at 1,875.56. The CSI 300 index bucked the trend to open higher 0.09% at 3,084.11.

Hong Kong's benchmark Hang Seng index opened 2.11% higher at 18,933.84. While in South Korea, the benchmark Kospi index was trading 1.71% higher at 1,871.75.

The benchmark Australian S&P/ASX 200 index rose 1.31% to 4,927.60.

New Zealand's benchmark S&P/NZX 50 rose 0.69% to 6,122.82.

Futures for WTI crude oil rose 5.04% for the session to trade at $29.78 per barrel. Brent contracts were up 5.24% for the day, changing hands at $29.34 per barrel. Commercial reserves of crude oil in the US increased by a sizeable 4 million barrels last week, compared to a 3.6 million barrel build expected by the market, data from the Energy Information Administration showed on Wednesday morning.