Political uncertainty around the Chinese Party Congress and the hospitalization of King Bhumibol of Thailand caused a choppy start in Asian markets Monday. However, momentum from big corporate announcements saw the major Chinese indices end way into the green, prompted by another round of IPO fever.Chinese exchanges ended the day at record highs, with the Hang Seng up 702 points, or 2.44%, to 29,540, and the Shanghai Composite Index finishing up 126.82 points, or 2.15%, breaking the benchmark 6,000 for the first time to 6,030. Nearby, the Kospi Composite was up 0.44% to 2035.39. Japanese trading was mixed, with the broader Nikkei 225 up 27 points, or 0.16% to 17,358.15, while the Topix slipped 2% to 1657. "Overall, Chinese companies continue to experience strong financial conditions and an export surplus, so there's a lot of excess liquidity in the markets right now, keeping prices high," says Kenta Inoue, economist for Mitsubishi UFJ Securities in Tokyo. PetroChina ( PTR) said that its oil and gas output was up 4.3% this month, while also saying it would pursue a listing on the mainland this quarter. The company hopes to raise $7 billion to $8 billion, which will be China's largest IPO to date. The news sent its shares in Hong Kong soaring 13.01%, making PetroChina the second-largest company in the world by market cap, at HK$3.51 trillion, or $452.4 billion. The company overtook GE ( GE), which has a market cap of $420.4 billion. Exxon Mobil ( XOM) remains still the world's largest company at $518.5 billion.