Asian stock markets settled higher on Friday, while the dollar reversed earlier losses and oil was poised to record its biggest gains in seven years.

China's benchmark index, Shanghai Composite went up 7.54 points or 0.24 percent to close at 3,103.64. Hong Kong's Hang Seng went up 209.65 points or 0.96 percent to end at 22,000.56.

South Korea's KOSPI went up 1.97 points or 0.1 percent to end at 2,026.46. Taiwan's TAIEX went up 100.41 points or 1.1 percent to end at 9,253.50.

On the other hand, Japan's benchmark index, Nikkei 225 fell 30.77 points or 0.16 percent to settle at 19,114.37. Singapore's Straits Times fell 8.39 points or 0.29 percent to end at 2,880.76.