Tokyo: Asian shares gained on Friday on news of a ceasefire accord in Ukraine, while Sweden`s surprise move to cut its main rate into negative territory and hopes of a resolution between debt-strapped Greece and its creditors burnished risk appetite.
MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.8 percent. Japan`s Nikkei slipped 0.2 percent but the broader Topix tacked on 0.1 percent.
The gains came after gains in Europe and Wall Street, with the pan-European stock index hitting a seven-year high and the S&P 500 coming within striking distance of a record high.
The Nasdaq also hit a 15-year high while the volatility index, a gauge of investors` fear, fell to its lowest level so far this year.
The main driver of receding anxiety was news of a ceasefire in Ukraine, providing relief to investors as tit-for-tat sanctions between the West and Moscow over Ukraine had become an added burden on the global outlook, particularly in Europe and Russia.
Meanwhile, a standoff between Greece and its European creditors on Greece`s bailout programme eased somewhat after Greece made an about-face on Thursday, agreeing to talk to the "troika" of international lenders.
While doubts remain on how quickly they can reach any deal, Greek stocks rose sharply, with the country`s main index jumping 6.7 percent.
Adding to the positive mood, the Swedish central bank surprised investors by launching a stimulus programme and cutting its main interest rate below zero.
The Swedish crown fell by as much 2 percent against the dollar to hit 8.5512 crowns, its weakest since April 2009, before recovering somewhat to 8.4350 to the dollar.
