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Asian Markets Rebound On European Stimulus Hopes, Oil Rise

A woman walks past an electronic stock board showing Japan's Nikkei 225 that gained 941.27 points or 5.88 percent and closed at 16,958.53 at a securities firm in Tokyo, Jan. 22, 2016.

Asian and European stocks surged Friday, following the lead of U.S. markets, after Europe's top banker hinted at fresh stimulus measures.

Tokyo's Nikkei led the way, ending up nearly 6 percent. Hong Kong added almost 3 percent. Seoul closed 2 percent higher. Sydney, Taipei, Singapore and Manila also saw major gains.

In early Europe trading, London gained 1.6 percent, while Frankfurt and Paris added 2 percent.

The gains come after European Central Bank chief Mario Draghi on Thursday raised hopes for some additional economic stimulus at the bank's meeting in March.

Investors were also encouraged after oil prices rose slightly Thursday.

Markets have slumped since the beginning of 2016 on concerns about plummeting oil prices, slowing economic growth in China and worries about the global economy.