Asian stock markets closed sharply higher on Monday. Japan's benchmark index, Nikkei 225 rose 297.50 points or 1.64 percent to settle at 18,438.67.

While China's benchmark index, Shanghai Composite jumped 104.51 points or 3.28 percent to close at 3,287.66. Hong Kong's Hang Seng rose 272.13 points or 1.21 percent to end at 22,730.93.

Singapore's Straits Times gained 33.61 points or 1.12 percent to end at 3,032.11. South Korea's KOSPI went up 2.10 points or 0.1 percent to end at 2,021.63. Taiwan's TAIEX rose 127.76 points or 1.51 percent to end at 8,573.72.