Asian share markets swung higher for the most part on Monday as Iranian negotiators said progress had been made in peace talks with the United States, helping calm fears the process was breaking down.

In Hong Kong, the Hang Seng Index opened down 113 points, or 0.5 percent, at 23,811 before losses accelerated to 389 points, or 1.63 percent, to put the benchmark at 23,535.

The China enterprises index was down 40 points, or 0.5 percent, at 7,935 while the tech index was nine points, or 0.2 percent, lower at 4,595.

Up north, the benchmark Shanghai Composite Index opened up 0.08 percent, at 4,093.

The Shenzhen Component Index was 0.41 percent higher at 16,095 while the ChiNext Index was up 0.48 percent at 4,272.

In Tokyo, the Nikkei surged past the 72,000 mark for the first time amid euphoria over AI investment.

The 225-share gauge was up 1,440 points, or 2.02 percent, at 72,690 at one stage before noon.

The broader Topix was up 53 points, or 1.32 percent, at 4,098.

In Seoul, the Kospi was up 142 points, or 1.58 percent, at 9,195 at one stage before midday.

Shares gain ground after Qatar and Pakistan, mediators to peace talks between the United States and Iran, said progress had been made and negotiations would continue following a tense opening.

"AI-related companies are once again playing a leading role in driving the market," said Wataru Akiyama, an equities strategist at Nomura Securities.

"A high level of vigilance regarding developments in the situation in Iran and the Middle East is likely to persist." (Reuters/Xinhua)


Edited by Tony Sabine