Asian and European markets advanced following overnight gains in Wall Street equities after the U.S. consumer price index for June logged the smallest rise in over two years.
 
Hong Kong's Hang Seng surged two and a half percent, Singapore's Straits Times index gained two percent, Japan's Nikkei-225 climbed one and a half percent, China's Shanghai Composite rose 1.3 percent and South Korea's Kospi added 0.6 per cent.
 
European Markets were also positive in intra-day trade. France's CAC-40 gained 0.7 percent, Germany's DAX rose half a percent and London's FTSE-100 was up 0.3 percent when reports last came in.