Asian equity benchmarks are trading up in the early deals on Thursday following the surge in crude oil prices overnight, in reaction to reports that OPEC members have reached a deal to cut oil production for the first time since 2008. Meanwhile, Japan's Nikkei share average rose as investors took heart from a weaker yen and rallying oil prices after OPEC's unexpected agreement to trim crude output.
Nikkei 225 gained 250.05 points or 1.52% to 16,715.45, Hang Seng added 112.32 points or 0.48% to 23,731.97, Jakarta Composite surged 43.38 points or 0.80% to 5,468.71, KOSPI Index jumped 15.90 points or 0.77% to 2,068.96, Taiwan Weighted increased 82.69 points or 0.90% to 9,277.21, FTSE Bursa Malaysia KLCI rose 4.90 points or 0.29% to 1,669.86, Straits Times increased 17.47 points or 0.61% to 2,875.48, and Shanghai Composite was up by 16.79 points or 0.56% to 3,004.64.