INTERNATIONAL: Asian markets rebounded on Friday following Wall Street's surprising overnight reversal, as investors weighed the longer-term impact of tough Western sanctions against Russia after it unleashed troops, tanks, and missiles on Ukraine.

European stock markets looked set to follow Asia higher even as Russia pressed its attacks and global condemnation grew, with FTSE futures adding 0.78%, European futures up 2.2%, and German stock market DAX futures rising 1.56%.

But U.S. share futures slipped in Asian trade, with S&P500 e-mini futures losing 0.61% and Nasdaq futures down 0.92%.

Some analysts said the sanctions by the United States, Europe, and a number of other countries were not as strong as markets had feared.

While Western nations redoubled their efforts to crimp Russia's ability to do business -- freezing bank assets and cutting off state-owned enterprises -- they stopped short of disconnecting Russia from the SWIFT international banking system or targeting its oil and gas exports, which some analysts said had helped markets to recover.