Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products.
In Japan, the Nikkei 225 zoomed 219.35 points, or 1%, to 21,822.04, as shares of index heavyweight Fanuc jumped 3.5%
The Japanese yen traded at 111.95 against the U.S. dollar after seeing highs around 110.4 in the previous week.
In Hong Kong, the Hang Seng hiked 147.42 points, or 0.5%, to 28,959.59, with shares of Chinese telecommunications equipment firm ZTE gaining 1.8%.
In South Korea, however, the Kospi shed earlier gains to close lower with industry heavyweight Samsung Electronics declining 0.6%
Australian markets were on the march, with the materials sub-index gaining 0.7% Shares of major miners advanced: Rio Tinto added 1.6%, Fortescue Metals Group soared 6.9%and BHP Billiton gained 1.2%
The Australian dollar changed hands at $0.7086 after it touched highs beyond $0.716 last week.
CHINA
In China, the CSI 300 zoomed 80.34 points, or 2.2%, to 3,749.71.
The Wall Street Journal reported Sunday that the U.S. and China are "in the final stage of completing a trade deal," with Beijing offering to lower tariffs on U.S. products in categories ranging from chemicals to autos. For its part, the U.S. is considering eliminating most, if not all, of the trade sanctions placed on Chinese goods last year, according to the Journal.
In other markets
In Korea, the Kospi index returned from holiday to lose 4.78 points, or 0.2%, to 2,190.66
In Taiwan, the Taiex also came back from a long weekend on a negative note, dumping 39.29 points, or 0.4%, to 10,349.88
In Singapore, the Straits Times Index gained 30.68 points, or 1%, to 3,251.68
In New Zealand, the NZX 50 jumped 61.81 points, or 0.7%, to 9,413.49
In Australia, the ASX 200 added 24.68 points, or 0.4%, to 6,217.41
