Asian stocks higher, Gold supported above $1220

Most Asian markets have started new week on a positive note. In addition, Gold is well supported above $1220 marks despite higher than expected US inflation report. US CPI figure released at 0.0% m/m vs -0.1% previous release. Likewise, core CPI figure stood at 0.3% m/m vs 0.1% previous release.

Japan's Nikkei 225 equity index was trading 0.58% higher at 16,060.87 points after opening some 0.3% lower on Monday, while the broader Topix index traded 0.90% higher at 1,303.40 points.

The Japanese yen traded 40 pips weaker at 112.88 against the US dollar on Monday, having closed last week at 112.53.

Hong Kong's Heng Seng index opened 0.73% higher at 19,426.06 points on Monday, while the Shanghai Composite index advanced 0.97% to 2,887.65 points.

The benchmark S&P/ASX 200 index was trading 0.67% higher at 4,986.20 points on Monday morning in Sydney, while New Zealand's main index, the S&P/NZX 50, fell 0.37% to 6,119.27 points.