Asian markets trade mostly higher in early deals on Monday

Most of the Asian equity benchmarks are trading up in the early deals on Monday as traders continued to adjust their positions ahead of crucial meetings of the US Federal Reserve and the Bank of Japan this week. Despite, the modest overnight losses on Wall Street, as a rebound in the price of crude oil in Asian trades boosted risk appetite. Among the other Asian markets, South Korea, Shanghai, Hong Kong, Singapore, Indonesia, and Taiwan are all in positive territory. Bucking the trend, Malaysia is lower and the Japanese market is closed for Respect for the Aged Day holiday.

Hang Seng added 193.78 points or 0.83% to 23,529.37, Shanghai Composite surged 18.17 points or 0.61% to 3,021.02, Taiwan Weighted rose 230.02 points or 2.58% to 9,132.32, Jakarta Composite increased 40.44 points or 0.77% to 5,308.21, KOSPI Index jumped 12.74 points or 0.64% to 2,012.10, and Straits Times was up by 3.26 points or 0.12% to 2,830.71.

On the flip side, FTSE Bursa Malaysia KLCI was down by 0.06 points to 1,652.93.