Japan’s Nikkei 225 crossed the 45,000 mark for the first time on Monday, leading gains in Asia-Pacific markets. The surge came after U.S. President Donald Trump said trade talks with China in Spain were “progressing well.”
The optimism was tempered by news of a “framework” deal on TikTok’s divestment, announced by U.S. Treasury Secretary Scott Bessent, who confirmed that commercial terms had been agreed. Presidents Trump and Xi Jinping are scheduled to speak Friday to discuss the terms.
Japan’s Topix added 0.41% to a record 3,172.33, while South Korea’s Kospi posted a second straight record high after the government reversed plans for a capital gains tax hike. Top gainers included Kolon Mobility Group (+29.9%), Il Dong Pharmaceutical (+18.2%), and Nongshim (+16.8%). The Kosdaq slipped 0.18%.
Elsewhere, Australia’s ASX 200 rose 0.26%, Hong Kong’s Hang Seng edged down 0.13%, and China’s CSI 300 retreated 0.28%.
On Wall Street, U.S. stocks advanced ahead of this week’s Federal Reserve meeting. The S&P 500 closed above 6,600 for the first time (+0.5%), the Nasdaq hit a fresh all-time high (+0.9%), and the Dow Jones gained 49 points (+0.1%) to 45,883.45.