All the Asian equity markets are trading in the green in morning deals on Monday, tracking cues from Wall Street where the major averages surged higher on Friday despite some weak economic data. Though movement in some of the regional gauges are a bit choppy, the mood remains moderately positive amid Chinese economic data showing an increase in new credit, raising optimism that China will maintain its growth momentum. While, Japan's gross domestic product was up 0.3 percent on quarter in the fourth quarter of 2013. The GDP expanded an annualized 1 percent from the previous quarter, less than the median projection of 2.8 percent where the lowest estimate was 1.1 percent. Among other markets in the Asia-Pacific region, Hong Kong, Singapore, Indonesia and Malaysia are trading modestly higher. Shanghai, South Korea and Taiwan are also trading firm.
Shanghai Composite gained11.13 points or 0.53% to 2,126.98, Hang Seng strengthened by 187.24 points or 0.84% to 22,485.65, Jakarta Composite spurted 35.59 points or 0.79% to 4,543.63, KLSE Composite rose 9.57 points or 0.53% to 1,828.94, Nikkei 225 surged 92.18 points or 0.64% to 14,405.21, Straits Times gained 23.59 points or 0.78% to 3,062.30, Seoul Composite jumped 7.23 points or 0.37% to 1,947.51 and Taiwan Weighted was up by 20.03 points or 0.24% to 8,533.71.