Asian stocks surged on Friday with Japan’s Nikkei leading regional gains after Wall Street romped to records following the Federal Reserve’s big cut to interest rates. U.S. futures and oil prices were lower.

Traders in Asia will also look toward August consumer prices index from Japan and Hong Kong, and central bank decisions from Bank of Japan and People's Bank of China.

Asia-Pacific markets on Friday were mostly higher, with Japan's Nikkei 225 leading the gains after Wall Street soared overnight following the Federal Reserve’s outsized rate cut. Market participants also reacted to PBOC rates holding despite the Fed Cut,

China said on Thursday its Liaoning aircraft carrier had been on a routine training mission in the western Pacific and dismissed charges by Tokyo that the vessel and its escorts had entered Japanese waters.

A Chinese aircraft carrier entered Japan’s contiguous waters for the first time on Wednesday, leading Tokyo to convey its “serious concerns” to Beijing over China’s increasingly assertive military actions around Japan,

A Chinese aircraft carrier entered Japan's contiguous waters for the first time on Wednesday, Japan's defence ministry said, the latest in a string of military manoeuvres that has ratcheted up tensions between the neighbours.