Asian markets traded higher over the weekend as Hong Kong and mainland China resumed quarantine-free travel.

Asian markets rose on Thursday, with investors appearing unfazed by the U.S. Federal Reserve's decision to raise interest rates in order to combat inflation.

U.S. stock futures were mixed on Thursday as investors weighed concerns about slowing global growth and high interest rates against hopes for China’s reopening this year.

Stocks in Hong Kong led the way in the Asia-Pacific region as traders kept an eye on the Federal Reserve's meeting minutes for indications of further interest rate increases.

On Wednesday, stocks appeared to be on track for a moderate rebound after beginning the new trading year on a pessimistic note.