Most of the Asian equity benchmarks are trading up in the early deals on Monday, as China's surprise decision to cut its key interest rate and upbeat earnings results from US technology companies boosted investor sentiment. Meanwhile, Japan's Nikkei share average rose to a fresh two-month high after China's surprising rate cut lifted risk sentiment, while bellwethers Hitachi and Panasonic Corp surged on stronger earnings expectations. Among the other Asian markets, China, Hong Kong, Taiwan, South Korea, Indonesia, and Singapore are up with modest gains, while, Malaysia is down slightly.
Nikkei 225 surged 186.51points or 0.99% to 19,011.81, Hang Seng strengthen 52.39 points or 0.23% to 23,204.33, KOSPI Index added 2.22 points or 0.11% to 2,042.62, Jakarta Composite gained 36.01 points or 0.77 % to 4,689.15, Shanghai Composite spurt 24.59 points or 0.72% to 3,437.03, Taiwan Weighted increased 50.35 points or 0.58 % to 8,724.16, and Straits Times was up by 24.89 points or 0.81% to 3,093.35.
On the flip side, FTSE Bursa Malaysia KLCI was down by 2.76 points or 0.16% to 1,708.17.