OVERNIGHT

Thursday was an up day for most Asian markets as investors took their lead from Wall Street and concerns about rising interests rates moved to the back burner at least for now.

The Nikkei was up 0.7%, the Australian markets tacked on 1.3% and MSCI's broadest index of Asian-Pacific shares outside Japan eked up 0.4%

The U.S. dollar languished near seven-week lows against the euro as the greenback, many believe, has become the fall guy to help offset all the negatives interest rates afloat at other central banks and help revive China. Higher U.S. rates would only complicate China's attempt to stifle capital outflows  and put further pressure on their currency reserves. Most likely as concerns about a global recession grew with China at the center of it some deal was cut at the last G20 meeting.

We've written about risk appetites before. Reuters reported: Investor risk appetite has increased since Fed Chair Yellen said on Tuesday that the U.S. central bank should proceed cautiously as it looks to hike rates, pushing back against some colleagues who have suggested another move may be just around the corner. Yellen's views were echoed by Chicago Fed President Charles Evans, who said on Wednesday there was a high hurdle to raising rates in April, given low inflation. Following such cautious views from top Fed officials, the Dow .DJI climbed 0.5 percent and the S&P 500 .SPX rose 0.4 percent overnight. The CBOE Market Volatility Index .VIX, Wall Street's "fear gauge", ended down 1.9 percent at its lowest level since August.