Japan’s Nikkei share gauge surged past the 71,000 level for the first time as a ceasefire deal between the US and Iran boosted demand for risk assets, Reuters reports.

The benchmark Nikkei 225 jumped 1.88 per cent to 71,219.45, after touching an intraday high of 71,293.64. The broader Topix gained 1.67pc to 4,080.26.