Asian stock markets are trading higher on Monday as banks followed a rally in the U.S. sparked by the Trump administration's plan to roll back financial regulations. The dollar slipped as a U.S. jobs report showed weaker wage growth.

Japan's benchmark index, Nikkei 225 gained 41.22 points or 0.22 percent to trade at 18,959.42. China's benchmark index, Shanghai Composite went up 5.58 points or 0.18 percent to trade at 3,145.75. Hong Kong's Hang Seng rose 139.93 points or 0.6 percent to trade at 23,269.14.

Singapore's Straits Times gained 7.25 points or 0.24 percent to trade at 3,049.19. South Korea's KOSPI went up 4.77 points or 0.23 percent to trade at 2,077.93. Taiwan's TAIEX rose 56.66 points or 0.6 percent to trade at 9,512.22.