Japan’s Nikkei 225 breached the 50,000 mark for the first time Monday as investors cheered progress in U.S.-China trade talks and strong momentum from Wall Street.
The index popped 1,212.67 points, or 2.5%, to 50,512.32.
Japanese Prime Minister Sanae Takaichi is expected to meet U.S. President Donald Trump this week during his visit to Japan.
A strong expansion of the country’s domestic demand would “completely lift Japan out of its deflationary structural stagnation” and make progress toward reducing the U.S. trade deficit, resulting in a win-win for both countries, the strategists said.
In Hong Kong, the Hang Seng tacked on 273.55 points, or 1.1%, to 26,433.70.
K-pop entertainment agency Hybe climbed nearly 10% after Bloomberg reported that supergroup BTS was planning a world tour spanning 65 cities, with half in North America.
CHINA
The CSI 300 in Shanghai gained 55.34 points, or 1.2%, to 4,660.68
The regional rally followed reports that top U.S. and Chinese trade negotiators had hashed out a framework on several disputed issues, paving the way for Trump and Chinese President Xi Jinping to sign off on the terms.
U.S. Treasury Secretary Scott Bessent told the media Sunday that Trump’s proposed 100% tariffs on Chinese imports are “effectively off the table.” He added that China is expected to make significant soybean purchases and to delay broad restrictions on rare earth exports. The U.S., however, will maintain its current export controls on China, Bessent noted.
In other markets
Markets in New Zealand were shuttered for holiday.
In Korea, the Kospi hiked 101.24 points, or 1.2%, to 4,042.83
In Singapore, the Straits Times Index prospered 18.09 points, or 0.4%, to 4,440.30
In Australia, the ASX 200 surged 36.69 points, or 0.4%, to 9,055.64.
