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Asia markets were mostly up on Monday morning, following a higher finish in US equities on Friday on the back of encouraging data on US domestic unemployment and manufacturing.

Australia's ASX 200 was up 0.25 percent, while Japan's Nikkei 225 was up 0.23 percent and the Kospi in South Korea was up 0.05 percent.

Friday's US nonfarm payrolls added 215,000 jobs in March, beating expectations for 205,000 jobs. The US unemployment rate was at 5.0 percent, the first month-over-month increase since May 2015.

US crude futures retreated during Asian hours, down 1.17 percent at USD 36.36 a barrel, after finishing down 4 percent on Friday. Global benchmark Brent futures were off 2.34 percent at USD 38.67 last Friday.

Evan Lucas, market strategist at IG, said in a morning note that Saudi Arabia, as the largest producer in the Organization of the Petroleum Exporting Countries (OPEC), is still dominating negotiations around the production freeze accord.

Saudi Arabia's deputy Crown Prince Mohammed bin Salman made remarks last week that cast fresh doubts over the ability of world oil producers to agree to an output freeze at their meeting in Qatar on April 17. The prince was reported as saying the kingdom would not participate in a freeze if Iran and other major producers, both OPEC and non-OPEC, do not join the program.

Bin Salman's remarks helped to knock 4 percent off the price of US crude Friday.

"There has not been one proposal yet that Iran has remotely entertained," said Lucas, adding Iran was still producing 25 to 30 percent below its pre-sanctions levels. "

Iran's Minister of Petroleum, Bijan Zanganeh, said over the weekend that the country is exporting above 2 million barrels of oil and gas condensates a day, according to the Shana news agency.

Energy plays in Asia were mixed on Monday, with shares of Santos down 2.3 percent and Woodside Petroleum down 1.01 percent, while Inpex added 0.33 percent.

Markets in China, Hong Kong and Taiwan are closed today.

Major US indexes closed higher on Friday, with the Dow Jones industrial average up 0.61 percent, the S&P 500 higher by 0.63 percent and the Nasdaq composite ending up 0.92 percent.

First Published:Apr 4, 2016 7:44 AM IST