Asia markets live: Stocks rise

Asia-Pacific markets rallied Monday after China and the U.S. announced a trade deal, including a 90-day pause on tariffs and a drop in reciprocal tariffs by 115 percentage points.

Hong Kong stocks led gains in the region with the Hang Seng Index surging 3.32% while the Hang Seng Tech index advanced 5.96% in their final hour, as details of the trade deal between the two superpowers emerged.

Meanwhile, mainland China’s CSI 300 index increased 1.16% to end the day at 3,890.60.

Indian stocks also saw massive gains following the ceasefire between India and Pakistan over the weekend. The arch rivals were involved in intense firing — the worst in nearly three decades — with both sides exchanging fire with missiles and drones.

The benchmark Nifty 50 surged 3.25% while the BSE Sensex gained 3.12%.

Japan’s benchmark Nikkei 225 ended the day 0.38% higher at 37,644.26 while the broader Topix index added 0.31% to 2,742.08.

In South Korea, the Kospi index advanced 1.17% to close at 2,607.33 while the small-cap Kosdaq moved up 0.4% to 725.40.

Over in Australia, the benchmark S&P/ASX 200 pared gains to end the day flat at 8,233.50.

U.S. futures jumped as investors await further details on the trade deal between the U.S. and China.

This comes after declines in the three key benchmarks on Wall Street in last Friday’s session.

The 30-stock Dow Jones Industrial Average lost 119.07 points, or 0.29%, and settled at 41,249.38. Meanwhile, the broad-based S&P 500 inched down 0.07%, closing at 5,659.91, while the Nasdaq Composite ended the session little changed, ending at 17,928.92.

— CNBC’s Yun Li, Fred Imbert, Pia Singh and Brian Evans contributed to this report.