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Asian Markets Rise on News of bin Laden's Death

A man checks his mobile phone in front of an electric quotation board flashing the closing rate of the Tokyo Stock Exchange market in Tokyo on May 2, 2011

Asian markets generally rose Monday on optimism that Wall Street shares would rally, after U.S. officials said al-Qaida leader Osama bin Laden had been killed.

Futures on the Standard and Poor's 500 Index rose, indicating U.S. shares may extend a four-day rally when markets open later Monday.

Oil, gold and silver prices dropped as news of the terror leader's death lowered the risk premium in the market.

The dollar and the Euro both benefited from the news, but analysts were mixed as to whether the news would provide a longer term boost to the greenback.

Some information for this report was provided by AP, AFP and Reuters.