Asian markets higher after Wall Street gains

Hong Kong closed up 1.73 percent at a two-week high and Sydney gained 1.76 percent. However, Tokyo trade was muted, adding just 0.20 percent as investors took a dim view of U.S. data showing unemployment above 10 percent.

Asia took its cue from Wall Street, which Friday rose 0.17 percent despite the disappointing U.S. figures.

Analysts said the report highlighted slow progress in bringing down unemployment as the economy emerges from recession, leaving the market hesitant.

Asian trade was also laced with caution ahead of Japanese machinery orders and Chinese factory data due out Wednesday. Shanghai closed 0.37 percent higher Monday.

Investors were also waiting to see how Wall Street will react to earnings reports from U.S. retailers, including Wal-Mart this week, said analysts.

TOKYO: Up 0.20 percent. The Nikkei-225 climbed 19.64 points to 9,808.99. “The market is unlikely to move much” before Wednesday, Daiwa Securities SMBC market analyst Yumi Nishimura told Dow Jones Newswires.

HONG KONG: Up 1.73 percent. The Hang Seng Index added 377.83 points to close at a two-week high of 22,207.55. Analysts said U.S. dollar weakness is spurring liquidity flows into the local market because of the low cost of borrowing the greenback for investment, while Hong Kong assets are attractive due to the local currency's U.S. dollar peg.

SYDNEY: Up 1.76 percent. The S&P/ASX200 rose 80.9 points to 4,674.9. Shares in life insurer and wealth management group AXA Asia Pacific rocketed 32.56 percent to $5.70 after it said it had knocked back an $11.04 billion takeover bid from parent AXA SA and rival AMP.

SHANGHAI: Up 0.37 percent. The Shanghai Composite Index, which covers both A and B shares, was up 11.55 points to 3,175.59. On the new ChiNext board, 22 out of 28 stocks declined on Monday with Anhui Anke Biotechnology (Group) Ltd leading the fall, down 4.6 percent to 42.75 yuan.

SEOUL: Up 0.28 percent. The KOSPI ended up 4.33 points at 1,576.79.

SINGAPORE: Up 1.32 percent. The Straits Times Index advanced 35.17 points to 2,693.38.

BANGKOK: Up 2.13 percent. The Stock Exchange of Thailand (SET) composite index rose 14.85 points to close at 713.48

KUALA LUMPUR: Up 0.55 percent. The Kuala Lumpur Composite Index rose 6.99 points to 1,267.75.

JAKARTA: Up 0.47 percent. The Jakarta Composite Index rose 11.33 points to 2,406.43.

MANILA: Down 0.54 percent. The index gave up 15.76 points to 2,915.71.

WELLINGTON: Up 0.16 percent. The NZX-50 closed up 4.90 points at 3,165.07.

MUMBAI: Up 2.11 percent. The 30-share Sensex rose 340.44 points to 16,498.72.

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