New York  - US stocks staged the biggest rally since November after the US government unveiled the details of a long-awaited plan to take toxic mortgage assets off the balance sheets of US banks.

Treasury Secretary Timothy Geithner put forward a 1-trillion- dollar public-private partnership that the administration hopes will go a long way to stabilize the crumbling US financial system.

The Dow Jones Industrial Average posted its fifth-largest points gain in history, and US financial firms gained 18 per cent on the announcement.

Taipei - Taiwan stocks rose 3.28 per cent Monday to a five-month closing high, bolstered by the technology sector, dealers said.

The main TAIEX share index opened higher and continued its upward trend to close at 5,124.18 points, up 162.56 points, or 3.28 per cent from Friday's trade, a closing level not seen since October 15.

Fuelled by expectation of more export orders for Taiwan Semiconductor Manufacturing Corp and United Microelectronics Corp, two of the world's leading contract chip makers, the technology sub-index rose sharply higher, dealers said.

Seoul - Shares climbed 2.4 per cent

Sydney - Australian stocks advanced strongl

Tokyo  - Tokyo stocks rose upon market opening Monday on anticipation of good news from Washington later Monday this week on more details of the financial bailout plan.

The benchmark Nikkei 225 Stock Average rose in the first 15 minutes by 58.34 points or 0.73 per cent to 8,004.30 points.

The broader Topix index of all first-section issues added 6.13 points or 0.8 per cent to 770.90 points.

Markets were closed Friday for a holiday.

On currency markets, the dollar remained stable at 95.93-98 yen after trading at 95.91-96.01 yen late Friday in New York.

Market regulator Security and Exchange Board of India plans to introduce new derivative products like lower-value contracts on individual stocks in the domestic derivative market in a bid to encourage retail investors in the option and future market.