ASX 0.8% higher
Australia's resource-heavy benchmark S&P ASX 200 also hit a seven-year closing high, building on the index's 1.5 percent rally in the previous session.
Miners led the gains after iron ore prices surged by more than 5 percent to a six-week high of $57 a ton. Fortescue Metals popped 16.3 percent, Rio Tinto rose 3.4 percent and BHP Billiton was 1.6 percent higher.
Telco M2 sank over 5 percent after confirming plans to buy rival iiNet for $1.25 billion.
Nikkei dips 0.2%
Japan's benchmark index closed below 20,000 points as investors awaited first-quarter earnings results from heavyweights Canon and Fanuc after the market-close.
Sony lost 0.3 percent on media reports that former executives accused CEO Kazuo Hirai last week of diminishing the company's creativity. This offset news from the Nikkei daily that Sony is expecting an operating profit of 300 billion yen next fiscal period, which would mark its best performance since 2008.
Oil firm Inpex lost 1.3 percent on reports that it is in talks to take a 5 percent stake in a U.A.E. oil concession for $1.1 billion.
Kospi 0.1% lower
South Korean shares reversed early gains, retreating from a four-year high of 2,189 points briefly hit last week. Among blue-chip stocks, Samsung Electronics fell 1 percent.