Share markets in Asia staged a relief rally on Thursday (October 17) as U.S. President Barack Obama declared a deal was done to lift the government's borrowing limit and avoid a historic default.
Japan's Nikkei share average extended gains into a seventh day and hit a three-week high after U.S. President Barack Obama said he would sign legislation to reopen the government and avert a debt default as soon as it reaches the White House.
The Nikkei was up 1.1 percent at 14,622.76 in midmorning trade after hitting 14,664.22 earlier, its highest since Sept. 27.
The index traded above 14,606.66, a 61.8 percent retracement of its May high to its June low.
Seoul's KOSPI opened slightly higher on the back of news. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.81 percent at 2,051.19 points when it was opened for trading.
Presented by Adam Justice