Executive summary: Tokyo and Asia-Pacific markets opened with a strong risk-on tone, led by a sharp jump in the Nikkei 225 and gains across Hong Kong, Seoul and Australian equities. Commodities were mixed but broadly firmer, with silver, WTI crude, gold and natural gas all higher, while the yen and yuan both strengthened against the dollar. The move points to a session shaped by commodity strength, currency shifts and renewed appetite for cyclical assets, especially autos and Japanese equities. [Continue Reading]