Asian markets climb overnight as EU debt talks continue

Shares in Asia climbed overnight despite a stalemate in Europe as talks between Greek bondholders and politicians dragged on.

Both Chinese and Japanese stock markets powered ahead, with the Nikkei up 0.2% to 8,785.33, and the Hang Seng Index gaining 0.8% to 20,110 points.

US shares were more muted, with the Dow off marginally, closing down 0.1% at 12,708 points, and the S&P 500 rising just 0.1% to 1,316 points.

The mixed moves come after a positive session in Europe, with the FTSE 100 up 0.9% at 5,782, its highest close this year, while European shares also rose with the German Dax up 0.5% to 6,436.62.

Gains across the globe came despite the stand-off over Greek's rescue package, which could see bond-holders lose as much as 65-70% of the value of their holdings.

But details of the interest rate levied on new long-term bonds issued as part of a debt swap have yet to be finalised.