Share markets and bonds rallied hard on Monday and oil prices tumbled five percent as a framework peace deal between the United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates.

In Hong Kong, the benchmark Hang Seng Index ended 124 points, or 0.5 percent, higher at 24,842 on turnover of HK$283.35 billion.

The tech index was 60 points, or 1.3 percent, up at 4,765 while the China enterprises index edged up just over one point to 8,375.

On the mainland, the Shanghai Composite Index closed up 64 points, or 1.61 percent, at 4,096 on turnover of 1.4 trillion yuan.

The Shenzhen Component Index rose 567 points, or 3.79 percent, to close at 15,531, on turnover of 1.63 trillion yuan while the ChiNext Index surged 203 points, or 5.3 percent, to 4,033 on turnover of 790.538 billion yuan.

In Tokyo, the Nikkei 225 Index surged 3,297 points, or 4.99 percent, to close at 69,317 after jumping up to 5.6 percent and surpassing the 69,000 level for the first time.

The broader Topix climbed 117 points, or 3.03 percent, to 3,999 after rising up to 3.9 percent earlier.

In Seoul, the benchmark Kospi closed up 422 points, or 5.2 percent, at 8,545.

Europe's early optimism drove both the Stoxx 600 and FTSE Eurofirst to records.

Saxo Bank strategist John Hardy said the peace deal was "about as supportive as you can get" for markets, especially after the excitement triggered by the recent record-breaking US$75 billion SpaceX IPO.

"What do you add on from here to get sentiment even bubblier?" (Reuters/Xinhua)




Edited by Tony Sabine