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Tokyo's Nikkei 225 Index climbed 152.91 points, or 0.9%, to 19,902.90 while the broader Topix index rose 19.31 points, or 1.2%, to 1,704.58. Elsewhere, Indian stocks rallied to record in midday trading on gains in software, steel makers and telecom issues. In currency trading, the U.S. dollar was quoted at 120.28 yen in Tokyo, compared to 120.25 yen late Friday in New York and 120.47 yen during Tokyo's previous late session. Japanese machinery orders rose a seasonally adjusted 3.8% in November from the previous month, gaining for the second month in a row, government data showed Monday. Economists had expected a 3.3% gain. The data, which excludes government, shipping and utilities-related machinery orders, is considered a leading indicator of corporate capital spending six to nine months ahead. Shares of industrial-robot maker Fanuc (JP:6954: news, chart, profile) rose 1.6% as investors bet the higher spending plans will lead to new investment in factory and assembly equipment. Around the region, South Korea's Kospi index nudged 0.2% higher and Malaysia's KLSE Composite climbed 0.8%. Australia's S&P/ASX 200 was up 0.6% and New Zealand's NZSX-50 ended 0.8% higher. Taiwan's Weighted Price Index rose 0.3% and Thailand's benchmark SET Index rose 1.1%. India's Bombay Sensex rose 0.7% to 14,154.47, Indonesia's JSX Composite index advanced 2.2% and China's Shanghai Composite rose 2.4%. Read business news in Chinese. Hong Kong's Hang Seng Index was 1.4% by midsession to 19,902.90. The Hang Seng China Enterprises Index, Hong Kong's benchmark for China shares, was up 1.2% to 9,789.30. Asia's gains come on the heels of another batch of upbeat market headlines from the United States. On Friday, the Dow Jones Industrial Average ($INDU : $INDU News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) closed up 41 points to 12,556, a record. The S&P 500 Index ($SPX : $SPX News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) rose almost 7 points to 1,430, a five-year high. "The whole region seems to be doing much better," said Miles Remington, head of sales trading at BNP Paribas in Hong Kong. "I think people now are looking at the U.S. economy and thinking perhaps there is that soft landing approach rather than hard landing some people have been talking about on the housing side." In Tokyo, banking shares were mostly higher on speculation the Bank of Japan will raise borrowing rates at the conclusion of its two-day policy board meeting, which gets underway Wednesday. Shares of Mitsubishi UFJ Financial Group Inc. (MTU : MTU News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) (JP:8306: news, chart, profile) , Japan's largest lender by assets, rose 1.3%. Mizuho Financial Group (JP:8411: news, chart, profile) , the nation's No. 2 lender, rose 1.4%. Japan Airlines (JP:9205: news, chart, profile) jumped 5.1% after the carrier said over the weekend it plans to request up to 60 billion yen ($500 million) from Japanese financial institutions this fiscal year to cover the upcoming redemption of convertible bonds. Sony (JP:6758: news, chart, profile) (SNE : SNE News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) rose 2.5% while microchip-equipment maker Kyocera Corp. (JP:6971: news, chart, profile) (KYO : KYO News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) added 1.4%. Canon Inc. (CAJ : CAJ News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) (JP:7751: news, chart, profile) fell 0.9% after Credit Suisse said its plan to buy out Toshiba Corp.'s stake in a technology joint venture to supply a new technology to produce ultra-thin flat panel screens. Among auto stocks, shares Honda Motor Corp. (JP:7267: news, chart, profile) (HMC : HMC News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) gained 1.7% after a Nikkei report the company plans to spend up to $200 million to establish a second automobile plant in India by early 2009. The new facility would have an annual production capacity of 50,000 units, adding to the 100,000-unit capacity Honda should have in place by the end of the year. Toyota Motor Corp. (TM : TM News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) (JP:7203: news, chart, profile) , Japan's largest carmaker, rose 1.5%. Shares of Hong Kong-listed PetroChina (HK:857: news, chart, profile) (PTR : PTR News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) , China's largest integrated oil firm by capacity, rose 2.4%. The company said it produced 5.2% more crude oil and natural gas last year than in 2005. Japanese oil and gas producer Inpex Holdings (JP:1605: news, chart, profile) rose 1.3% and Australian-listed Woodside Petroleum (WOPEY : WOPEY News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) (WPL : WPL News , chart, profile, more Last: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: , , ) rose 1.6%. Oil prices rose 31 cents to $53.30 a barrel in electronic trading in Asia. On the New York Mercantile Exchange Friday, crude for February delivery closed up $1.11 at $52.99 a barrel. Front-month gold futures rose 20 cents to $626.70 an ounce. In NYMEX trading Friday, the February gold contract gained $13 to close at $626.90 an ounce. Chris Oliver is MarketWatch's Asia bureau chief, based in Hong Kong.