While devastating, Irma didn't reach the feared Category 5 storm that some had expected and looks to have spared Miami, helping the dollar push off its lowest level in more than two years. The country's iron ore producers were among the worst performers on the benchmark index after the price of steel making ingredient fell on Friday.
"The debt ceiling can being kicked down the road a few months is also providing temporary relief but as always with this kind of thing, the problem has only been delayed rather than resolved".
Hong Kong's Hang Seng Index was up 1 per cent with all sectors rising and financials gaining 1.1 per cent. The Nasdaq composite jumped 57 points, or 0.9 percent, to 6,417.
Asian stock markets pushed higher in relief, with Tokyo gaining 1.4 percent.
The risk on sentiment will likely see the Euro remain on the back foot through the remainder of the day, which could see the Euro give up $1.20 levels early in the session, with the only consideration for the day being any possible friction between the North Korean's and the U.S, though a war of words is more palatable than actual missile or nuclear tests, as far as the markets are concerned. Among them, Marinus Pharma (MRNS.O) surged about 56 percent and Idera Pharma (IDRA.O) gained about 16 percent.
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NORTH KOREA: North Koreans observed 69th anniversary of the country's founding, but it the country did not test another intercontinental ballistic missile, as South Korea's government had warned it might do.
At the time of the report, the Dollar was up 0.65% against the Yen at ¥108.543, as market risk aversion abated, not only on the lack of noise from North Korea, but also on news of Hurricane Irma being downgraded having made landfall over the weekend, damaging parts of Florida. The index had reached a more than 2-1/2-year low of 91.011 on Friday as investors anxious about the short-term impact of Hurricane Irma on the USA economy and were concerned about heightening tensions between North Korea and the United States. Apple, which will unveil its newest iPhone on Tuesday, rose $2.36, or 1.5 percent, to $160.99 and Facebook rose $1.86, or 1.1 percent, to $172.81. On the Nasdaq, 2,062 issues rose and 790 fell.
Brent crude oil, the global benchmark, rose 0.5 per cent to $54.02 a barrel after falling 1.3 per cent on Friday on concerns Hurricane Irma would hit demand.
CURRENCIES: The dollar strengthened as the latest developments gave traders less reason to flee to the yen, traditionally considered a haven.
The euro eased to 1.2017 dollars, having hit a top of 1.2092 dollars on Friday amid speculation the European Central Bank was closer to starting a wind-back of its stimulus programme.
The technology sector.SPLRCT jumped 1.46 percent.