Asian markets rose sharply Monday, with resource stocks such as BHP Billiton in Sydney, Inpex Holdings in Tokyo and PetroChina in Hong Kong leading gains.
Japan's Nikkei 225 stock index rose 1.2 percent to 13,450.2, while Hong Kong's Hang Seng rose 1.3 percent to 24,578.8.
Commodity-related shares were the notable gainers in Tokyo after gold and oil prices rose.
Trading house Mitsui & Co. advanced 8.5 percent. Nippon Mining Holdings gained 8.9 percent and Sumitomo Metal Mining added 5.8 percent.
Steel shares were weaker, though, dragged down by Nippon Steel, which lost 3.4 percent. Local media triggered earnings concerns for the sector with reports that Nippon Steel is likely to agree to a proposed hike in coal prices by BHP Billiton for this fiscal year.
Japanese bank shares were mostly flat after a Nikkei report said combined net profit at Japan's six major banks is estimated to have plunged more than 40 percent for the fiscal year ended March 31, in part due to losses related to U.S. subprime mortgages.
The benchmark Shanghai Composite Index gained 4.5 percent to 3,599.62. The index has fallen 32 per cent since the beginning of the year, and is 41 percent below an all-time peak of 6,124.04 points hit in mid-October.
Haitong Securities and Northeast Securities both surged by the maximum daily limit of 10 percent, after falling 54 per cent and 65 percent respectively over the past five months.
Aluminum Corp. of China and Jiangxi Copper also rose the limit, after having lost around 60 percent each over the same period.
Elsewhere:
New Zealand's NZX 50 index gained 0.4% to 3,644.49.
South Korea's Kospi overcame early volatility to end up 0.4% at 1,773.56.
Taiwan's Weighted index advanced 1.6% at 8,729.79.
Australia's S&P/ASX 200 was unsettled through the session as gains in mining and energy stocks were matched by steep losses in banks. The index finally ended 0.1% higher at 5,625, after yo-yoing between positive and negative zones.
with files from other wire services
