Mainland China's CSI 300 extended a five-day winning streak, hitting its highest levels in almost two months after Beijing rolled out a slate of economic stimulus measures on Tuesday. South Korea's Kospi jumped 1.

Industrial profit data will be released from China on Friday, and Japan will release September inflation data from the capital city of Tokyo.

Investors in Asia will look toward Australia’s inflation rate for August, which is expected to ease to 2.7% from 3.5%.

Hong Kong's Hang Seng index extended its rally and climbed 2.6% on the back of stimulus measures from China. Australia's consumer price index posted a 2.7% rise year on year in August, in line with expectations from economists polled by Reuters and easing from the 3.

European stocks are expected to open in positive territory Thursday, spurred on by gains in Asia-Pacific markets overnight.

Asia-Pacific markets trade higher on Friday as China stocks set for best week since 2008 and Hong Kong’s Hang Seng Index is set for a weekly gain of almost 13%, marking its best week since 1998, while investors also assess September inflation numbers from Japan’s capital city of Tokyo.