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Asia Perks, Nippon Hits Three-Decade High

Asia-Pacific markets are largely higher after U.S. President Joe Biden signed into law a debt ceiling bill that allowed the U.S. to avert defaulting on its financial obligations over the weekend.

In Japan, the Nikkei 225 hiked 693.21 points, or 2.2%, to 32,217.43, above the 32,000 mark for the first time since 1990.

In Hong Kong, the Hang Seng gained 158.56 points, or 0.8%, to 19,108.50.

Oil futures also surged as the Organization of the Petroleum Exporting Countries (OPEC) kingpin Saudi Arabia’s decision to cut oil production by another million barrels per day.

Australian markets celebrated their third straight day of gains, ahead of the country’s central bank rate decision tomorrow.

In other markets

In China, the CSI 300 index docked 17.58 points, or 0.5%, to 3,844.25.

In Taiwan, the Taiex index nicked ahead 7.52 points, or 0.1%, to 16,714.43.

In Korea, the Kospi index grabbed 14.05 points, or 0.5%, to 2,615.41.

In Singapore, the Straits Times index returned from a long weekend to gain 22.71 points, or 0.7%, to 3,189.01.

Markets in New Zealand were shuttered for holiday.

In Australia, the ASX 200 moved higher 71.33 points, or 1%, to 7,216.27.