U.S. stock indices climbed on Friday as oil prices rose and expectations for further stimulus from the European Central Bank and the Bank of Japan intensified.

The Dow Jones Industrial Average rose 210.83 points, or 1.3%, to 16,093.51 (+0.7% over the week). The S&P 500 gained 37.91 points, or 2%, to 1,906.90 (+1.4% over the week). The Nasdaq Composite rose 119.12 points, or 2.7%, to 4,574.93 (+2.3% over the week). These were the indices' first weekly gains in 2016.

The S&P's energy sector led gains with a 4.3% increase on Friday.

This morning in Asia Hong Kong Hang Seng rose 1.67%, or 318.84, to 19,399.35. China Shanghai Composite Index climbed 0.77%, or 22.41, to 2,938.97. The Nikkei rose 1.18%, or 199.80, to 17,158.33.

Asian stock indices continued rising after Friday's rally. Gains were supported by rebounding stock markets in the U.S. and Europe.

However some analysts say that prospects of the global economic growth are not so rosy and oil prices, which brought stocks higher recently, are likely to feel the ongoing oversupply issue.