Asian markets traded broadly higher amid choppy trade on Monday, with Japanese shares charging up to a near 8-year high, shrugging off weaker-than-expected growth figures released before the market opened.
Although concerns about Greece's debt problem linger in the background, traders are starting to think that a compromise will be reached when both parties reconvene in Brussels today.
"People are starting to price in that Greece will not exit. Perhaps today won't be the last day of negotiations, but both sides have the potential to lose out big [if Grexit occurs] and markets understand that," Harmut Issel, head of Equity and Macro APAC at UBS, told CNBC's "Street Signs Asia."
U.S. stocks closed at highs last Friday, with the Dow Jones Industrial Average gaining 0.3 percent to close above 18,000 and S&P 500 setting a new record as the energy sector advanced on firming oil prices. The tech-heavy Nasdaq also added 0.8 percent to finish at its highest level since March 2000.
U.S. crude oil futures settled up $1.57 at $52.78 a barrel, while Brent oil traded above $61 a barrel as eurozone economic growth exceeded expectations and data showed another drop in the U.S. oil rig count.