Asian shares were mostly lower following strong gains in Europe overnight, while the FTSE 100 climbed in premarket trading after Labour’s overwhelming election victory.

Asian stocks reached 27-month highs as lower-than-expected employment data in the US reduced the likelihood of a rate cut in September.

Asian shares mostly climbed, driven by a more than 10% surge in Tesla shares, which helped push US benchmarks to new records.

Asian stocks showed mixed results after Wall Street stocks advanced and US bond yields surged following a Supreme Court ruling that former presidents have broad immunity from prosecution.

The euro appreciated overnight as the far-right National Rally party appeared unlikely to secure a majority, despite significant gains in the first round of parliamentary elections.