Asian Markets Rally on Signs of Progress in U.S.-Iran Negotiations

Asian stock markets moved higher after Iranian negotiators said progress had been made in peace talks with the United States, helping calm fears that negotiations were breaking down, Rian Howlett reported for Yahoo Finance.

Hong Kong's Hang Seng Index fell 0.7 percent.

Japan's Nikkei index rose 1.8 percent after climbing nearly 8 percent last week to record highs. South Korea's benchmark Kospi added 0.6 percent after surging more than 11 percent last week on strong demand for semiconductor stocks.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.8 percent, while China's blue-chip stocks rose 1.6 percent. Hong Kong's Hang Seng Index, however, fell 0.7 percent.