Asian Stocks Advance as Bessent Calls China Talks 'Successful' Ahead of Trump-Xi Meeting

Asian shares mostly rose Monday after Treasury Secretary Scott Bessent described weekend talks with Chinese Vice Premier He Lifeng as a "very successful engagement" before an expected Trump-Xi meeting this week in Washington. South Korea's Kospi gained 1.8% to 7,018.98, led by Samsung Electronics, up 5%, and SK Hynix, up 1%. Taiwan's Taiex rose 1.1%, with TSMC adding 0.6%. Hong Kong's Hang Seng advanced 0.6% to 24,891.58, and the Shanghai Composite gained 0.6% to 3,933.37. Japan's Nikkei 225 is closed through Wednesday for a holiday. Australia's S&P/ASX 200 was flat at 8,730.40, and India's Sensex rose 0.6%. The U.S. and China have discussed reciprocal tariff cuts on $30 billion of goods from each side. Trade, tariffs, AI safety and Middle East tensions are likely on the leaders' agenda. Brent crude fell 2.1% to $101.67 a barrel; U.S. benchmark crude lost 2.2% to $93.99.