Led by oil price rise, Asian stocks and bond yields rebounded on Friday. The encouraging rise on Asian markets ended a bruising and volatile week on a positive tone. Japanese currency Yen's surge against US dollar also aided Asian stocks. Asian investors shrugged off overnight fall on the US markets. 

Europe's FTSEurofirst 300 index rose 0.8 percent. Mostly energy and resources stocks propelled FTSEurofirst 300 index upwards. However, it is reeling under pressure as it has poised for a fourth week decline, indicating the longest losing streak for FTSEurofirst 300 index since October 2014. 

Reuters reports that the oil price rebound has made recovery in risk appetite. Investors are looking to the  outcome of next week's meeting of oil producers in Doha. If oil producers agree on production cuts, then it'll support oil prices. Asia MSCI index outside Japan closed flat on Friday and showed 1.2 percent decline for the week.

Referring to the April 17 meeting of oil producers that could yield a production freeze and put a floor under the oil price, Jasper Lawler, market analyst at CMC Markets in London, said: "This puts the recovery on risky ground given the absence of confidence that producers can reach agreement at next week's meeting in Doha."

A report on Nasdaq indicates Japan's stocks rose on possible government's measures to dampen Yen. Shanghai shares fell as traders were cautious note ahead of the economic data to be released next week. Japan's Nikkei-225 rose 0.46 percent as Yen surged against the US dollar and other global currencies. However, Yen's rise is impacting Japan's exports more in a negative way. Japan's Finance Minister Taro Aso said the government was taking measures against 'one-sided' moves in foreign exchange markets. 

Lawler further adds that "The recovery in risk appetite that has seen funds flow into equities can almost exclusively be laid at the feet of a rebound in the oil price."

LiveMint notes that Japanese Yen rose to 17-month high against the US dollar and now, global banking and finance stocks are reeling under pressure. US stock futures fell marginally 0.2 percent. Federal Reserve Chair Janet Yellen said the US economy is doing well and still on track to warrant further interest rate hike. Ten-year US Treasuries yield declined to six-week low of 1.6 percent, yet the US interest rate futures are stable. 

Furukawa shares' price rose 7.09 percent while Yahoo Japan's up 6.37 percent. OKUMA, industrial equipment maker, shares' rose 5.50 percent and Hang Seng index marginally gained 0.51 percent. Traders shrugged off the overnight drop on the Wall Street. Chinese investors are looking to latest data on exports, new lending rates and inflation numbers.