The decision by the US central bank to keep rates at current levels until at least 2013 helped stem one of the biggest sell-offs in recent years.

Japan's Nikkei 225 index gained 2 percent, the Republic of Korea's Kospi rose 4 percent and Australia's ASX added 2 percent.

However, analysts say markets will remain choppy amid global growth fears.

They said that many investors were still concerned about global growth and the fact that the Fed did not announce any new measures to boost expansion, such as an economic stimulus package.

One of the key reasons behind the massive sell-off over the past few days has been the fear that the US, the world's biggest economy may be falling into recession.

The fears about the state of the global economy were fanned last week by Standard & Poor's decision to cut the US's credit rating from triple A to AA+ for the first time.

On top of this, the ongoing debt issues in Europe have prompted many analysts to revist their own estimates for both economic and corporate profit growth.

Despite the concerns, early trading on August 10 provided markets with a respite from the recent selling spree.