Asian markets Monday jumped on the back of a leap in the region's financials as Citigroup's better-than-expected quarterly results eased worries about the health of the U.S. banking sector.
In Hong Kong, the blue-chip Hang Seng Index climbed 714.18 points, or nearly 3.3 percent, to 22,591.79. Japan's financial markets were closed for a public holiday.
In Hong Kong, banks helped lead the market higher. HSBC and China Construction Bank both gained more than 4 percent.
Shares of South Korea's Kookmin Bank climbed 7.2 percent, although Fitch Ratings Friday lowered its outlook on the lender's long-term foreign currency ratings to negative from stable, as investors snapped up financials across the region.
Air China jumped more than 6 percent due to lower oil prices.
In other markets, mainland China's Shanghai Composite Index was up nearly 1.6 percent at 2,822.30 points, lifted partly by gains in insurance and financial issues.
Shares of refining giant China Petroleum & Chemical Corp., or Sinopec jumped 3.3% in Hong Kong, on hopes the weak trend in crude-oil prices recently will reduce its losses on retail fuel sales.
Elsewhere:
Australia's S&P/ASX 200 index jumped 3.5% to 5,011.80, reclaiming the psychologically-important 5,000-point level.
South Korea's Kospi surged 3.5% to 1,562.92.
Singapore's Straits Times Index added 2.4% to 2,915.65 in late trading.
Taiwan's Weighted index climbed 4% to 7,085.67.
with files from other wire services
