Asian stocks surged today, driving Japan`s Nikkei 225 Stock Average to its biggest gain on record, as US and European governments agreed to buy stakes in banks to avert a collapse in financial markets.

The Nikkei jumped more than 14%, rebounding from the worst week in its 59-year history, as people briefed on the plan said the US government will invest in nine of the nation`s biggest banks. Sony, Toyota Motor, and Mitsubishi UFJ Financial Group climbed more than 14%.

Japanese benchmark index Nikkei gained 1,171.14 points, or 14.15%, to end at 9,447.57.

China`s Shanghai Composite slid 56.25 points, or 2.71%, to end at 2,017.32.

South Korea`s Kospi index went up 79.16 points, or 6.14%, to end at 1,367.69.

Taiwan`s Taiex index advanced 271.12 points, or 5.40%, to settle at 5,291.56.

Singapore`s Straits Times increased 51.96 points, or 2.50%, to close at 2,128.31.