Major Asian stocks markets closed higher on Monday amid trade optimism after U.S. President Donald Trump announced a postponement of a closely-watched deadline on March 1.
In Japan, the Nikkei 225 regrouped 102.72 points, or 0.2%, to 21,425.51. Shares of index heavyweight Fast Retailing, the company behind the Uniqlo chain of apparel stores, gained 0.7%
The Japanese yen, often viewed as a safe-haven currency, traded at 110.66 against the U.S. dollar after touching lows above 110.8 last week.
In Hong Kong, the Hang Seng leaped 143 points, or 0.5%, to 28,959.30. Shares of China Construction Bank gained more than 2.1%. Hong Kong-listed shares of Chinese network equipment firm ZTE advanced more than 2.3%, after leaping 13.9% earlier.
The Australian dollar changed hands at $0.7147 U.S. after seeing turbulence last week as it swung between highs above $0.720 and lows below $0.710.
CHINA
In China, the CSI 300 jumped 209.36 points, or 6%, to 3,729.48
Those moves took the Shanghai composite into bull market territory, or up at least 20% from intraday lows seen in early January. The Shanghai composite fell into a bear market, or down 20% from a recent high, in June 2018.
U.S. President Donald Trump announced in a series of posts on Twitter Sunday evening that America is planning to delay a set of additional tariffs on Chinese goods that were due to kick in on March 1.
In his posts, Trump cited "substantial progress" in bilateral talks between the world's two largest economies, including intellectual property protection and technology transfer issues. As a result, the president said he would suspend the new levies, however he did not state a new deadline.
The offshore Chinese yuan also saw gains, on the back of Trump's announcement, last trading at 6.6936 against the dollar. Its onshore counterpart changed hands at 6.6923 against the greenback.
In other markets
In Korea, the Kospi index edged higher 2.06 points, or 0.1%, to 2,232.56
In Singapore, the Straits Times Index nicked 2.45 points, or 0.1%, to 3,272.35
In Taiwan, the Taiex Index gained 68.01 points, or 0.7%, to 10,390.93
In New Zealand, the NZX 50 added 35.42 points, or 0.4%, to 9,344.63
In Australia, the ASX 200 advanced 19.01 points, or 0.3%, to 6,186.32
