Majority of Asian equities climbed in the Monday morning trade as investors tracked the positive cues from the US markets which climbed on Friday while Japan’s progress in battling radiation leaks at a nuclear complex too spurred optimism in the region. However, the surge in crude oil prices on the back of lingering upheaval in Libya, where the US and allied forces launched a military campaign over the weekend in support of a UN resolution, threatening to jeopardize the market's fragile confidence. Stock markets in China remained very volatile in morning trade as oil stocks advanced due to spike in crude prices while copper producers receded on fears that the Chinese central bank may take measures to tame inflation.
Hang Seng surged 234.16 points or 1.05% to 22,534.39, Jakarta Composite advanced 10.51 points or 0.30% to 3,504.58, KLSE Composite added 0.56 points or 0.04% to 1,504.45, Straits Times climbed 25.65 points or 0.87% to 2,961.43, Seoul Composite soared 17.89 points or 0.90% to 1,999.02, Taiwan Weighted jumped 85.86 points or 1.02% to 8,480.61.
On the other hand only Shanghai Composite traded in the negative zone after shedding 4.92 points or 0.17% to 2,901.96.
Stock markets in Japan remained shut on account of Spring Equinox Day holiday.
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