Vibrant neon signs and bright street lights glowing above the busy night traffic of taxis, double decker buses and pedestrians along Nathan Road in the crowded Tsim Sha Tsui district of Kowloon, Hong Kong, China.
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Japan’s benchmark Nikkei 225 surpassed the 45,000 mark for the first time, leading gains in Asia-Pacific markets Monday, after President Donald Trump said that the U.S.-China trade negotiations in Spain were progressing well.
The trade talks were overshadowed by a “framework” deal regarding the divestment of Chinese-owned TikTok, announced by Treasury Secretary Scott Bessent Monday. Speaking from Madrid, Bessent noted that the commercial terms have already been settled.
Both U.S. President Donald Trump and Chinese President Xi Jinping will speak on Friday to discuss the terms.
Japan’s Topix gained 0.41% to an all-time high of 3,172.33.
South Korea’s Kospi continued to rise to notch its second day of record high, after the government reversed its plan to hike capital gains tax on stocks Monday. Among the top gainers on the index were car dealer Kolon Mobility Group, which rose 29.91%, Il Dong Pharmaceutical, which increased 18.16%, and instant noodles company Nongshim, which was up 16.78%.
Meanwhile, the small-cap Kosdaq fell 0.18%.
Australia’s ASX/S&P 200 climbed 0.26%.
Hong Kong’s Hang Seng Index reversed course to decline 0.13%, and the mainland’s CSI 300 retreated 0.28%.
Overnight in the U.S., major averages closed higher as investors braced for a key Federal Reserve meeting this week.
The S&P 500 climbed 0.5% to 6,615.28, marking its first close above 6,600. The Nasdaq Composite also advanced to a new all-time high, rising 0.9% to 22,348.75. The Dow Jones Industrial Average eked out a small gain, gaining 49.23 points, or 0.1%, to end the day at 45,883.45.
— CNBC’s Sarah Min and Pia Singh contributed to this report.