Asian stock markets mostly rose in early Friday trading, buoyed by a rebound on Wall Street and falling oil prices. Japan's benchmark Nikkei 225 climbed 0.8% to 64,662.11, with the Bank of Japan concluding a two-day meeting to consider changes to its interest rate policy. South Korea's Kospi surged 2.1% to 6,856.35, while Australia’s S&P/ASX 200 edged up nearly 0.1% to 8,738.50. Hong Kong's Hang Seng rose 0.8% to 24,766.66, and China's Shanghai Composite added nearly 0.8% to 3,905.34. On Wall Street, falling oil prices and reduced pressure in the bond market helped stocks recover from losses suffered the previous day. The S&P 500 rose 1.1%, marking its second gain in nine days. The Dow Jones Industrial Average added 316 points, or 0.6%, and the Nasdaq Composite climbed 1.7%. The rebound came after Brent crude oil, the international benchmark, dropped from nearly $110 per barrel earlier in the week due to concerns about the Iran conflict disrupting oil supplies. In Asian trading, Brent fell 0.68% to $104.11 a barrel, while U.S. crude slid 0.54% to $101.36 a barrel. The drop in oil prices helped reduce pressure on the bond market, leading to a decline in yields. The 10-year U.S. Treasury yield fell to 4.93% from 5.01% earlier in the week. Earlier in the week, the Federal Reserve raised the short-term federal funds rate by 0.25 percentage points, its first increase in over three years. Officials also indicated they may raise rates once more this year to combat high inflation. The announcement sent Wall Street on a volatile ride, with stocks initially rising before falling sharply and then rebounding. Despite the uncertainty, the shift to higher interest rates reinforced confidence that the Fed is committed to bringing inflation down to its 2% target. However, higher rates also tend to reduce the value of stocks and other investments. Overall, the S&P 500 rose 85.95 points to 7,637.76, the Dow Jones Industrial Average gained 316.14 to 51,778.04, and the Nasdaq Composite climbed 439.87 to 26,418.30. In currency markets, the U.S. dollar strengthened slightly to 156.15 Japanese yen from 155.95 yen, while the euro remained unchanged at $1.1480.