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• The Dow Jones Industrial Average rose 306.88 points, or 1.23 percent, to 25,200.37, the S&P 500 gained 32.57 points, or 1.21 percent, to 2,731.2 and the Nasdaq Composite added 112.82 points, or 1.58 percent, to 7,256.43

Wall Street surged on Thursday to notch its fifth straight session of gains, led by Apple and other technology stocks as investors shrugged off recent inflation worries that sent the market into a sell-off at the start of the month.

• Gains on Wall Street lifted Asian equities on the last day of the week, but trading in the region was subdued with many markets shut for the Lunar New Year holiday.

• Over in Asia, there's set to be less activity than normal, with markets in China, Hong Kong, Taiwan, South Korea, Malaysia and Vietnam closed.

• Japan's benchmark Nikkei rallied 1.26 percent as the yen weakened. The currency earlier fetched 106.06 per dollar, hitting a new 15-month high for the second consecutive day, but then depreciated to 106.23 by 9:20 a.m. SIN/HK.

Reference: Reuters, CNBC