Asian stocks were up smartly this morning,

Asian stocks were up smartly this morning, helping the region's benchmark index rebound from a two-year low, after oil slumped and on speculation that a possible investment in Lehman Brothers will ease concerns over credit losses.

The Nikkei in Tokyo was last up 1.8% while the Hang Seng in Hong Kong jumped by nearly 3%. The Shanghai Composite in China gained 1.25% while the Kospi in Seoul rose 0.6%. The Straits Times in Singapore was up 1% while the Taiex in Taiwan advanced 1.4%.