Asia Markets: Asian markets jump higher following Friday’s selloff

Asian stock markets were broadly higher in early trading Monday following Friday’s U.S. selloff and another plunge for oil.

Despite the indication of the futures premarket, Japanese stocks started higher amid gains from so-called domestic demand stocks after the holiday weekend, reflecting concerns about global growth. The Nikkei

NIK, +0.76%

  rose 0.7%, with beverage maker Kirin

2503, +1.47%

  , retailer FamilyMart

8028, +6.66%

  and furniture retailer Nitori

9843, +2.91%

 showing strong gains. But energy and financial stocks fell sharply after end-of-week drops in crude and Treasury yields. Oil explorer Inpex

1605, -2.44%

  was down 2.8% and Mitsubishi UFJ

8306, -1.04%

  was off another 1.5%.

Hong Kong stocks were solidly higher following Friday’ selling. Despite the weakness in energy following the oil slump, the Hang Seng Index

HSI, +1.73%

  was up 1.7% amid gains in financial and property stocks. They’re up some 1%, along with internet heavyweight Tencent

0700, +2.34%

 . Major Chinese oil giants were down, with Cnooc

0883, +0.95%

  off 1%.

Equities benchmarks in mainland China were muted, with the Shanghai Composite

SHCOMP, -0.14%

  up 0.3% and the smaller-cap Shenzhen Composite

399106, -0.32%

  up 0.1%.

After a four-day losing streak, Taiwan’s benchmark

Y9999, +1.01%

  jumped 1% as the tech-heavy market’s heavyweights rose following recent global weakness for the sector. Taiwan Semiconductor

2330, +2.06%

  and Largan Precision

3008, +4.23%

  gained 2%. South Korea’s Kospi

SEU, +1.24%

  rose 1% after four-straight drops of its own, with Samsung

005930, +0.47%

  up slightly. Singapore’s Strait Times Index

STI, +1.12%

  was up almost 1%.

Australia’s ASX 200

XJO, -0.78%

  lagged the rest of the region, down 0.6%. Energy and mining stocks were weak, with Oil Search

OSH, -4.03%

  and Rio Tinto

RIO, -3.56%

  each down around 3%. New Zealand’s benchmark

NZ50GR, -0.45%

  was down slightly.

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