In Hong Kong, the benchmark Hang Seng Index opened up 252 points, or 1.04 percent, at 24,501.
The China enterprises index was 60 points, or 0.74, percent, higher at 8,278 while the tech index up 57 points, or 1.24 percent, at 4,713.
On the mainland, the benchmark Shanghai Composite Index opened up 30 points, or 0.77 percent, at 4,017.
The Shenzhen Component Index was 297 points, or 2 percent, higher at 15,149 while the ChiNext Index was up 2.88 percent at 3,921.
In Tokyo, the Nikkei was 2,225 points, or 3.37 percent, up at 66,442 at one stage before lunch.
In Seoul, the Kospi was almost 600 points, or 7.73 percent, up at 8,363 at one stage after opening up on the verge of 500 points, or 6.44 percent, at 8,263.
This surge immediately triggered a “buying sidecar” mechanism by the Korea Exchange, temporarily halting programme buy orders due to the sheer volume of incoming bids.
Trading has been volatile this week, with the benchmark stock index triggering “sidecar” trading curbs in four sessions, including Friday’s, and activating circuit breakers earlier this week for the third time this year and the ninth in history.
All eyes are also on the hotly-awaited market debut of Elon Musk’s SpaceX, which has made history with the biggest-ever initial public offering. The IPO raised a record US$75 billion, valuing the rocket and spacecraft manufacturer at US$1.77 trillion and making Musk the world’s first trillionaire.
US President Donald Trump said on Thursday that a peace deal could be signed as soon as this weekend, hours after threatening more strikes on Iran. He said negotiations with Tehran had advanced to the highest levels of Iran’s leadership and had been approved by a broad coalition of regional powers.
Trump’s remarks follow repeated bouts of optimism from the president that have failed to yield a deal, keeping markets on edge.
Nonetheless, “this does look perhaps a bit more tangible than we have had,” said Ray Attrill, head of FX strategy at National Australia Bank.
“If we hear something from Iran that sounds positive, the odds [of a peace deal] are clearly going to flip quite dramatically.”
The deal, if confirmed, would be the most significant diplomatic breakthrough yet to end the three-month-old war, which has sent global energy prices sharply higher. (Reuters & Xinhua)
