Asian markets trade higher in early deals on Monday

All the Asian equity benchmarks are trading higher in the early deals on Monday, tracking cues from Wall Street where the major averages rose sharply last Friday amid easing worries about the global economy and on hopes the US Federal Reserve may delay ending its asset purchase program. On the regional front, the Japanese stock market rallied sharply this morning on a weaker yen. Further, solid US data and earnings calmed tumult in global financial markets and reassured investors worried about the health of the world economy too contributed to downside. A report that said the Japanese pension fund will increase its allocation target for local shares to 25 percent contributed as well to the market's gains. Among other markets in the Asia-Pacific region, Indonesia, South Korea and Taiwan are up sharply. Malaysia, Singapore, Hong Kong and Shanghai are also up with strong gains.

Nikkei 225 spurted by 539.32 points or 3.71% to 15,071.83, Hang Seng improved 93.48 points or 0.41% to 23,116.69, KOSPI Index increased by 27.80 points or 1.46% to 1,928.46, Straits Times surged 18.90 points or 0.60% to 3,186.63, Jakarta Composite added 63.95 points or 1.27% to 5,092.90, Shanghai Composite gained 5.84 points or 0.25% to 2,347.03, FTSE Bursa Malaysia KLCI jumped 13.92 points or 0.78% to 1,802.23 and Taiwan Weighted was up by 134.53 points or 1.58% to 8,647.41.