Asian markets traded mostly higher in early deals on Monday, as crude oil rates plunged following a weekend pause in military strikes between Washington and Tehran that eased concerns over a major West Asian energy crisis. Most Asian economies are sensitive to supply disruptions and swings in crude prices. Dollar softened against most of the local currencies also contributed to investor appetite shift from safe havens to equities. Japan’s Nikkei rebounded from previous session's losses with the positive global cues. Rise in gains in export oriented business with the weaker local currency yen also boosted capital inflows.
Nikkei up by 218.85 points or 0.34% to 64,830.00, Straits Times rose by 12.35 points or 0.22% to 5,600.69, Hang Seng higher by 235.77 points or 0.94% to 25,199.00, KOSPI Index lifted by 42.69 points or 0.64% to 6,733.31, Shanghai Composite added by 10.17 points or 0.27% to 3,824.37 and FTSE Bursa Malaysia KLCI index jumped by 15.99 points or 0.94% to 1,717.01
On the flip side, Jakarta Composite down by 22.49 points or 0.36% to 6,173.94 and Taiwan weighted dipped by 239.96 points or 0.55% to 43,414.88.
