SINGAPORE: Singapore shares kicked off the week on a positive note as the US administration’s massive rescue plan for the battered financial sector encouraged investors shaken by last week’s global turmoil.

The benchmark Straits Times Index (STI) was up 1.6 per cent, rising 33.12 points to 2,592.19 in opening trade.

Some 180.8 million shares exchanged hands, with gainers overwhelming losers 217 to 47.

Stock markets around Asia on Monday also rallied upon news of the rescue plan.

Japan’s Nikkei was up 1.88 per cent to 12145.16, while South Korea’s Kospi edged up 0.97 per cent to 1469.95 points.

Taiwan’s weighted index surged 3.1 per cent to 6,156.86 while Australia’s S&P/ASX 200 index jumped over three per cent within minutes of trading to 4,950.9.

US Treasury Secretary Henry Paulson on Sunday urged Congress to swiftly pass an unprecedented US$700-billion financial rescue plan, deflecting Democratic calls for measures to help at-risk homeowners.

- CNA/yb