Asian equities rallied in overnight trading as US President Donald Trump and North Korean Leader Kim Jong Un met in Singapore, the first time leaders from the two countries have held face-to-face meetings.
Japan's Nikkei 225 and Topix indices both rose 0.4% to 22,902 points and 1,794 points respectively, while Hong Kong's Hang Seng index climbed 0.5% to 31,213 points.
The US dollar was also on the rise following the beginning of the summit, up 0.2% to ¥110.295 against the yen, a currency which typically tends to slide when geopolitical risk cools.
Following years of threats from North Korea and more recently from Trump, the two nations have finally agreed to meet at the diplomatic table with the US pushing for North Korea's denuclearisation.
According to CNBC, Washington are set to offer North Korea relief from international sanctions, while Pyongyang is thought to want guarantees about its autocratic regime's future and border security.
Trump said at the meeting: "Mr Chairman, it's a great honor to be with you, and I know we'll have tremendous success together and we will solve a big problem — a big dilemma — that until this point has been unable to be solved, and working together we'll get it taken care of," according to CNBC.
Mark Williams, head of Asia income at Liontrust Asset Management, added there are still concerns about the negotiations: "The risk is clearly that relations become more unstable, a worry which is heightened by the two leaders' inexperience. It is rumoured that the negotiations will initially be one-on-one, only accompanied by translators rather than experienced aides.
"Such a prospect will alarm those already concerned by Trump's aversion to a standard briefing process.
"Ultimately, we do not think there will be a significant deterioration in relations, at this summit or beyond.
"As much as anything, all parties involved - not just the US and North Korea, but China and South Korea too - would like the North Korean regime to remain in place rather than collapse, so the likelihood is that it will do so.
"Overall, we see North Korean developments as noise rather than something that should determine investment decisions."
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