Iron ore surged 2.8% to $103.60 a ton at 10:45 a.m. in Singapore, while rebar and hot-rolled coil in Shanghai climbed more than 2%.

We would not read too much into the marginal strengthening of the yen after Sunday's Upper House election result in Japan.

Financials (-2.26%) were by far the worst performers with the banking sector under pressure: Westpac (-3.6%), Commonwealth ...