Asian stocks marched higher on Friday, following a positive lead from Wall Street, fueled by dovish signals from the US Federal Reserve minutes.

In the US, the Dow Jones Industrial Average closed above 17,000 for the first time since Aug. 19, gaining almost 1 percent and ending the session 138 points higher at 17050.75. The S&P 500 closed up almost 1 percent at 2,013.43 and the Nasdaq up 0.4 percent at 4,810.79.

The rises came as investors digested the Fed's September meeting minutes. "I think the combination of oil (gains) and the Fed minutes have lifted the indices here," said Peter Cardillo, chief market economist at Rockwell Global Capital, noting the minutes diminished the likelihood of a rate hike this year.

The September meeting minutes indicated that policymakers were still watching domestic inflation and the impact of slower global growth. "I think you got a little more clarity on what the Fed was thinking. The decision to not raise rates was more collaborative than people thought. The call really wasn't that close," said Peter Coleman, head trader at Convergex.

The Nikkei 225, Japan's benchmark index, opened up 0.8 percent at 18,281.51, recovering some of Thursday's losses. The Nikkei closed down 1 percent on Thursday, snapping a six-session winning streak, after taking a hit from weak machinery orders data and profit-taking.

Bucking the market uptrend, shares of Fast Retailing, the maker of the Uniqlo clothing brand, lost as much as 8.9 percent after the company missed its profit forecasts for the financial year. It reported an operating profit of 164.5 billion yen (USD 1.37 billion) - well below a projected 200 billion yen, suffering from losses at its US stores.

Australia's ASX 200 rose 0.9 percent to 5,257.80, on track for the fifth straight day of gains, underpinned by advances in materials, energy and resource-related stocks.

The material sector has added 7.8 percent since Monday – its best weekly gain in 2015 and biggest weekly move since 2013, according to IG. Meanwhile, the energy sector has added 12 percent this week – the best weekly gain since the week beginning 20 February 2012.

Chinese stocks continue to be in focus, after the Shanghai Composite surged 3 percent on Thursday in a catch-up rally post a week-long holiday. The market's performance on Friday was far less impressive, with the index rising just 0.2 percent in early trade.

Hong Kong stocks, on the other hand, logged solid gains at the start of trade, with the Hang Seng Index up 1.5 percent after being hit by profit taking a day earlier.

Markets in South Korea and Taiwan are closed for public holidays.

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First Published:Oct 9, 2015 7:41 AM IST