ASIAN markets rallied on Monday, with the Straits Times Index (STI) closing above the psychological 3,200 support level, regaining some losses from Friday's tumble but failing to make a full recovery.

In Monday's session, the STI gained 1.2 per cent or 37 points to close at 3,228.82.

About two billion shares worth S$1.23 billion in total changed hands as gainers outnumbered losers 240 to 146.