Asian shares rally on EU stimulus talk

Shares across Asia rallied on Friday on news that the European Central Bank is considering more economic stimulus.

In South Korea, unexpectedly strong growth figures also weighed in to boost investor confidence.

The country's benchmark Kospi index closed up 0.7% at 2,040.40 points on news that economic growth hit a five-year high in the third quarter of the year.

In Tokyo, the Nikkei 225 index jumped 2.1% to finish at 18,825.30 points.

Stocks were lifted in Japan by the positive signals coming overnight from the European Central Bank as well as the strong close on Wall Street.

A weaker yen also suggested a good day for the country's crucial export sector.

Car maker Toyota and electronics giants Sony and Toshiba all saw solid gains of as much as 2%.

Elsewhere in Asia, Hong Kong's Hang Seng closed up 1.34% at 23,151.94, while the benchmark Shanghai Composite on China's mainland closed up 1.3% at 3,412.43.

Australia's S&P/ASX 200 finished 1.7% higher at 5,351.60 points.

The country's large lenders, Westpac, CBA and ANZ, jumped by as much as 2%, while commodity producers' shares were also up.

Mining giant BHP Billiton rose by more than 2% while Santos continued yesterday's rally with another 2.2% increase.