Asia report: Shares rebound after US infrastructure deal agreed

Asian stocks rebounded on Friday on the back of momentum from Wall Street as a bipartisan $579bn US infrastructure deal was agreed.

Markets in Japan, China and Hong Kong all closed higher. In Tokyo, the Nikkei share average rose 0.66% to close at 29,066.18, while the broader Topix advanced 0.80% to 1,962.65.

Hong Kong's Hang Seng added 1.38%, Seoul's Kospi was up 0.44%, China’s Shanghai Composite gained 1.15% and Australian shares climbed 0.45%

Overnight, the US Nasdaq and S&P 500 indices closed at record highs, while the Dow Jones jumped almost 1% after US President Joe Biden embraced the bipartisan Senate infrastructure deal.