Asian share markets tracked Wall Street higher on Monday after a soft US jobs report pared the risk of a near-term rise in borrowing costs, though a lack of progress in Gulf peace talks saw oil prices creep higher.

In Hong Kong, the benchmark Hang Seng Index opened up 137 points, or 0.53 percent, at 25,805 before continuing its rise to be 224 points, or 0.87 percent, higher at 25,892 at one stage in early trading.

The tech index was 41 points, or 0.85 percent, higher while the China Enterprises Index was up 52 points, or 0.61 percent, to 8,583.

On the mainland, the Shanghai Composite Index edged up three points, or 0.1 percent, to 3,943.

The Shenzhen Component Index rose 37 points, or 0.3 percent, to 14,348 while the ChiNext Index inched up three points, or 0.11 percent, to 3,567.

In Tokyo, the Nikkei opened up 298 points, or 0.46 percent, at 65,905 and the gains piled up to put the 225 benchmark up 1,324 points, or 2.02 percent, at 66,931 at one stage before noon.

In Seoul, the Kospi was 30 points, or 0.49 percent, up at 6,289 after opening 47 points, or 0.76 percent, higher at 6,306.

Iran said on Sunday that a deal with Oman defining new shipping lanes in the Strait of Hormuz was in its final stages but reiterated that the waterway would only reopen once the United States met other conditions.

Brent crude added 0.9 percent to US$84.32 a barrel as shipping through the vital waterway remained at a trickle, while US crude rose 0.7 percent to US$78.74 a barrel.

The latest revival in fuel costs raises the stakes for the US July consumer price report due on Wednesday where analysts look for a rise of 0.1 percent in the headline and 0.2 percent for the core.

Any upside surprise could rekindle speculation of a hike from the Federal Reserve next month. (Reuters & Xinhua)


Edited by Aaron Tam