Asia Markets Surge As Countries Sign Giant Trade Deal

Asia markets bounced surged in trade as 15 economies in the region signed a deal that formed the world's largest trade alliance. Australia, meanwhile, halted trading shortly after markets opened.

The trade deal, was largely aimed to gradually reduce tariffs across many areas. The Regional Comprehensive Economic Partnership is now the world's largest trade bloc, a deal that excludes the U.S. It marks the first time that East Asian powers China, Japan and South Korea are in a single trade agreement.

The Japanese Nikkei 25, , the Nikkei 225 gained 1.65%, while the Topix was up 1.42%, the Hong Kong's Hang Sang was up 0.53 per cent.

The Regional Comprehensive Economic Partnership (RCEP) is made up of 10 Southeast Asian countries, as well as South Korea, China, Japan, Australia and New Zealand. The RCEP is likely move on eliminating tariffs in the region.