Bangkok: Asian stock markets climbed on Monday as robust Chinese economic indicators boosted confidence in the economic recovery.
Oil prices, meanwhile, surged above $77 a barrel, extending gains for a second trading day after a leak forced the closure of a Chicago-area oil pipeline and disrupted supplies to US Midwest refineries.
Sentiment in regional stock markets was bolstered by the China figures which suggested the world's No. 2 economy isn't slowing as abruptly as feared. Exporters in many countries, particularly in Asia, are relying on Chinese demand to offset sluggish growth in the US and Europe.
China's industrial production growth accelerated to 13.9 per cent year-on-year in August from July's 13.4 per cent increase. Investment in factories and other fixed assets soared 24.8 per cent while retail sales of consumer goods rose 18.4 per cent due to better-than-expected auto sales.
"The data ... out of China assumes significance particularly at a time when the rest of the world is passing through a soft patch," Mirae Asset Securities said in a report. "In the main, it provides further evidence of an economy downshifting to a more sustainable rate of growth."
Japan's Nikkei 225 stock average paced regional gains, jumping 107.53 points, or 1.2 per cent, to 9,346.12. Automakers and tech shares benefited from a softer yen, which triggered buying in exporters. The dollar was trading above the 84-yen level after hitting a fresh 15-year-low last week in the 83-yen range.
Hong Kong's Hang Seng index added 2 percent to 21,685.73, South Korea's Kospi rose 0.8 per cent to 1,815.58, and Taiwan's benchmark was up 2.4 per cent at 8,077.50.
Australia's S&P/ASX 200 advanced 1.3 per cent to 4,611.10, led by miners and banks. China's Shanghai Composite Index gained 1 per cent to 2,689.61.
In New York on Friday, the Dow Jones industrial average rose 47.53, or 0.5 per cent, to close at 10,462.77, extending a rally that began nearly two weeks ago on newfound optimism about the global economy. It was the highest close since August 10. But it's still only up 0.3 per cent this year.
Broader indexes also rose. The Standard & Poor's 500 index rose 5.37, or 0.5 percent, to 1,109.55, while the Nasdaq composite index rose 6.28, or 0.3 percent, to 2,242.48.
Benchmark crude for October delivery was up 75 cents at $77.20 a barrel in electronic trading on the New York Mercantile Exchange. The contract surged $2.20 to settle at $76.45 a barrel on Friday. In currencies, the dollar rose to 84.08 yen from 84.07 yen. The euro rose to $1.2785 from $1.2675.
