Asian markets tracked a record day on Wall Street Thursday, with Shanghai and Hong Kong supported by the People's Bank of China's move to boost liquidity for major stock-buyers.

The Hang Seng Index jumped 3.86 percent, or 795 points, to 21,432.

The Shanghai Composite Index climbed 2.57 percent, or 83 points, to 3,342, and the Shenzhen Composite Index on China's second exchange advanced 2.21 percent, or 42 points, to 1,959.

Traders cheered as China's central bank fleshed out plans to encourage "the healthy and stable development of the capital market" by opening up a "swap facility" worth 500 billion yuan that will allow firms to access cash to buy stocks.

Companies will be allowed to use equities, bonds and other assets as collateral for "high-grade liquid assets such as treasury bonds and central bank bills", it said.

The programme may be "further expanded depending on the situation", it added. (Agencies)