Asian Markets Rally Post Christmas

Markets seem to be in a cheerful mood post Christmas, with most Asian markets opening higher on Monday. Japan's Nikkei 225 jumped 1.3% to 10634.23, marking its strongest closing since late August, with Honda Motor (NYSE: HMC) and Tokyo Electron (OTC: TOELY.PK) leading the gains due to stable currency movement. Meanwhile, China's Shanghai Composite added 1.5% and South Korea's Kospi Composite moved up 0.2%.

Part of the share gains in Shanghai was due to Premier Wen commenting on Beijing not prematurely ending its stimulus policy. Kospi Composite was driven on the news that a Korean-led consortium has won a $20.4-billion contract to build four nuclear reactors in the United Arab Emirates.

However, Hong Kong's Hang Seng Index markets shed 0.2% by the close. On the other hand, markets in Australia, New Zealand and India were closed on account of local holidays.