Investor confidence has been bolstered by reports that President Trump is seeking to ease trade tensions with China. This development has prompted a movement towards riskier assets in the markets.
In Asia, the Nikkei 225 index surged by 3.37%, closing at 49,186 points, while the Topix gained 2.46%, reaching 3,248 points. The Japanese benchmark index achieved a new all-time high, driven by a wave of buying activity ahead of Tuesday's presidential election, which is expected to determine Japan's next Prime Minister.
Sentiment improved significantly following the announcement of a coalition agreement between the Liberal Democratic Party and the Japan Innovation Party. This agreement paves the way for Sanae Takaichi to potentially become Japan's first female Prime Minister.
