The Hang Seng is up by 3% on the day

HSI

Meanwhile, the Shanghai Composite is up by 0.6% while the CSI 300 index is up by 0.7% going into the final hour of trading. South Korea's Kospi is up by 6% as well with Taiwan's TAIEX also having closed up by over 6% earlier today.

Japanese markets are closed today, hence no trading in the Nikkei.

It is a comforting end to the week for Asian equities after what has been yet another rough week. The Hang Seng and mainland Chinese indices look set to close by nearly 7% lower this week, with the Nikkei having ended its four-day week with nearly 11% losses.