From the Equator, Asia is located on the north direction.
From the prime meridian, Asia is located on the east direction
Asia is located in both the northern and eastern hemispheres.
Equator refers to the horizontal line that located on the middle of the earth While prime meridian refers to the vertical line that located in the middle of the earth. Asia is located on the east northern side of the conjuction between these two lines.
For the hemisphere, most of Asian territory is located on the northern hemisphere, but some of the part of Indonesia located on the southern hemisphere.