Cyprus deal boosts Asian markets

Asian markets rallied on Monday after Cyprus and and its international leaders struck a deal that will qualify the island for a bailout and avoid the collapse of its banking system.

The euro also enjoyed a bump as investors bought on relief that European officials had come to a last-minute agreement they hope will draw a line under a crisis that sent shares tumbling last week.

Tokyo climbed 1.45 per cent, Hong Kong added 0.96 per cent, Sydney was 0.66 per cent higher, Shanghai was up 0.28 per cent and Seoul put on 1.62 per cent.

via Business feed http://www.scmp.com/business/economy/article/1199314/cyprus-deal-boosts-asian-markets