Asian markets trade higher in early deals on Thursday

Asian equity benchmarks are trading up in the early deals on Thursday as crude oil extended gains on hopes that big producers will cap production, improving investor sentiment for riskier assets. Besides, solid US manufacturing data boosted European and US markets. Manufacturing output rose 0.5 percent in January, after falling in four of the previous five months. Overall industrial production, which includes mining and utilities, added 0.9 percent, the biggest jump in 14 months. Minutes from the US Federal Reserve's January policy meeting, released overnight showed that policymakers had a dovish attitude towards further interest rate increases in 2016 amid the uncertain global outlook. Meanwhile, the Japanese market is up with strong gains. Investors shrugged off weaker than expected Japanese trade data, while a weaker yen boosted exporters' stocks. Exports were down 12.9 percent on year, missing expectations for a decline of 11.0 percent following the 8.0 percent decline in the previous month. Imports tumbled an annual 18.0 percent versus expectations for a fall of 15.9 percent after shedding 18.0 percent a month earlier.

Nikkei 225 surged 411.85 points or 2.60% to 16,248.21, Hang Seng strengthen 403.27 points or 2.13% to 19,327.84, Jakarta Composite added 19.16 points or 0.40% to 4,784.67, Taiwan Weighted increased 86.70 points or 1.06% to 8,300.95, KOSPI Index gained 16.45 points or 0.87% to 1,900.39, FTSE Bursa Malaysia KLCI spurt 14.02 points or 0.84% to 1,678.34, Straits Times jumped 46.30 points or 1.77% to 2,660.09, and Shanghai Composite was up by 12.61 points or 0.44% to 2,879.95.