Asian equity benchmarks are trading higher in the early deals on Monday, reflecting renewed optimism about the European Central Bank’s new stimulus measures and on higher crude oil prices. Better than expected Japanese core machine orders data also boosted risk appetite. Meanwhile, the Shanghai composite index rallied after the new head of the securities regulator signaled he will keep propping up the equity market and developers announced acquisitions.
Nikkei 225 surged 287.95 points or 1.70% to 17,226.82, Hang Seng increased 261.13 points or 1.29% to 20,460.73, Straits Times gained 22.51 points or 0.80% to 2,851.37, FTSE Bursa Malaysia KLCI jumped 4.03 points or 0.24% to 1,700.57, Taiwan Weighted added 46.19 points or 0.53% to 8,752.33, KOSPI Index spurt 1.14 points or 0.06% to 1,972.55, Jakarta Composite strengthen 46.25 points or 0.96% to 4,860.03, and Shanghai Composite was up by 72.45 points or 2.58% to 2,882.76.