Asian stocks open on a positive note

Asian stocks gained, led by financial and commodity companies, on optimism bank earnings will recover and metal prices jumped.

Mizuho Financial Group gained more than 3.5% on speculation the Bank of Japan may act to shore up bank capital and after London-based Barclays said it had a strong start to 2009.

Japanese benchmark index Nikkei gained 123.54 points, or 1.60%, to trade at 7,827.69.

Hong Kong`s Hang Seng index dropped 27.86 points, or 0.21%, to trade at 12,948.85.

China`s Shanghai Composite climbed 12.46 points, or 0.58%, to trade at 2,165.76.

Taiwan`s Taiex index went up 14.40 points, or 0.29%, to trade at 4,985.72.

South Korea`s Kospi index increased 19.25 points, or 1.71%, to trade at 1,144.71.

Singapore`s Straits Times fell 21.19 points, or 1.34%, to trade at 1,565.13. (7.44 a.m., IST).