Asian Market Update

Asian markets rallied on Monday after China's surprise move last week to cut interest rates for the first time in more than two years as leaders try to kickstart growth in the Asian economic giant.


The euro struggled in early exchanges following a sell-off Friday in response to comments from the head of the European Central Bank hinting at further stimulus measures to fight off deflation.

Hong Kong jumped 2.05 per cent and Shanghai rose 0.82 per cent, while Sydney gained 1.06 per cent and Seoul was 0.69 per cent higher.

Tokyo was closed for a public holiday.