Asian Markets open positive

Asian stocks gained, led by financial and transportation companies, after UBS AG recommended investors buy Mitsubishi UFJ Financial Group and a slump in oil prices signaled lower fuel costs.

Mitsubishi UFJ gained almost 2% in Tokyo as UBS said the lender is likely to see increased loan volumes.

Japanese benchmark index Nikkei advanced 74.52 points, or 0.87%, to trade at 8,687.04.

Hong Kong`s Hang Seng index fell 50.06 points, or 0.32%, to trade at 15,410.46.

China`s Shanghai Composite declined 4.83 points, or 0.24%, to trade at 1,971.99.

Taiwan`s Taiex index climbed 16.14 points, or 0.35%, to trade at 4,664.16.

South Korea`s Kospi index increased 14.50 points, or 1.24%, to trade at 1,184.25.

Singapore`s Straits Times went up 6.24 points, or 0.35%, to trade at 1,785.53.