Asian Markets open positive

Asian markets opened positive on Thursday (August 23) as worries regarding the credit crises took a pause. However, Japanese government bond futures fell in the early sessions of trade ahead of the Bank of Japan`s policy decision, which is to come later in the day.

Mitsubishi UFJ Financial Group and Macquarie Bank rose on easing credit concerns. BHP Billiton, the world`s largest miner, rose after it reported record profit.
Shares of Countrywide Financial jumped 20% after the company announced that Bank of America bought USD 2 billion of convertible preferred stock.

The Japanese benchmark index Nikkei, gained 392.26 points, or 2.47%, to trade at 16,293.60.

Hong Kong`s index Hang Seng gained 545.18 points, or 2.44%, to trade at 22,892.06.

China`s Shanghai Composite gained 17.84 points, or 0.36%, to trade at 4,997.91.

Taiwan`s index Taiex gained 229.51 points, or 2.70%, to trade at 8,722.97.

South Korea`s KOSPI gained 55.12 points, or 3.13%, to trade at 1,814.62.

Singapore`s Straits Times gained 77.36 points, or 2.33%, to trade at 3,398.86. (8.10 a.m, IST)