Asia-Pacific markets surged on Monday following the announcement of a trade agreement between China and the US, which included a 90-day tariff pause and a reduction in reciprocal tariffs by 115 percentage points. Hong Kong stocks were the top performers in the region, with the Hang Seng Index rising 2.98 per cent to close at 23,549.46. The Hang Seng Tech index also saw gains, climbing 5.16 per cent to 5,447.35, reaching their highest levels since March 27. In the meantime, the CSI 300 index in mainland China rose by 1.16 per cent to close at 3,890.60 for the day. Indian stocks also experienced significant gains after the ceasefire between India and Pakistan was announced over the weekend. The Nifty 50 index rose by 3.49 per cent and the BSE Sensex increased by 3.38 per cent by 2 pm local time. The Nikkei 225 index in Japan closed the day 0.38 per cent higher at 37,644.26, and the Topix index also rose by 0.31 per cent to 2,742.08. In South Korea, the Kospi index increased by 1.17 per cent to finish at 2,607.33, and the small-cap Kosdaq rose by 0.4 per cent to 725.40. In Australia, the S&P/ASX 200 index trimmed its gains and closed the day unchanged at 8,233.50. Attribution: CNBC Subediting: M. S. Salama
