Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
Shares in mainland China saw solid gains on the day following the positive developments. The Shanghai composite surged 5.6 percent to 2,961.28 while the Shenzhen component added 5.587 percent to 9,134.58. The Shenzhen composite jumped 5.417 percent to 1,557.27.
Those moves took the Shanghai composite into bull market territory, or up at least 20 percent from intraday lows seen in early January. The Shanghai composite fell into a bear market, or down 20 percent from a recent high, in June 2018.
Over in Hong Kong, the Hang Seng index rose 0.52 percent in its final hour of trading. Shares of China Construction Bank gained more than 2.1 percent. Hong Kong-listed shares of Chinese network equipment firm ZTE advanced more than 2.3 percent, after leaping 13.9 percent earlier, according to Reuters.
Chinese markets in general have posted strong gains so far in 2019, the Shanghai composite, for example, is up more than 18 percent year-to-date and even the smaller CSI300 has jumped more than 20 percent year to date. That surge since the start of 2019 led investment bank UBS to caution investors that the market has gone "a long way ahead of fundamentals."
In Japan, the Nikkei 225 advanced 0.48 percent to close at 21,528.23 and the Topix rose 0.71 percent to finish its trading day at 1,620.87. Shares of index heavyweight Fast Retailing, the company behind the Uniqlo chain of apparel stores, gained 0.67 percent.
The broad MSCI Asia-ex Japan index rose 0.63 percent to 527.85 as of 3:16 p.m. HK/SIN.
"As both (the U.S. and Chinese) Presidents said significant progress has been made, the chance for the US and China to reach a deal is getting higher," OCBC Treasury Research said in a morning note. "However, the key to medium term stability hinges on two areas including agreement on China's structural reforms and the enforcement of trade deals."
U.S. President Donald Trump announced in a series of posts on Twitter Sunday evening that America is planning to delay a set of additional tariffs on Chinese goods that were due to kick in on March 1.
In his posts, Trump cited "substantial progress" in bilateral talks between the world's two largest economies, including intellectual property protection and technology transfer issues. As a result, the president said he would suspend the new levies, however he did not state a new deadline.
"President Trump announcing a delay in raising tariffs on Chinese imports has been in the works for some time. The high frequency engagement between Beijing and Washington at a senior level implies that both sides are looking for some form of settlement," Tai Hui, Asia Pacific chief market strategist at J.P. Morgan Asset Management, said in a note.
"Moreover, with growing questions over the growth outlook in the U.S., further tariff escalation would add more uncertainty to this concern. Still, there are plenty of long term structural issues for both sides to lock horns over, such as market access and (intellectual property rights) protection," he said.
The U.S. president's comments came following extended trade negotiations between officials from Washington and Beijing. Talks had earlier spilled over into the weekend after both sides reported progress in narrowing their differences.
Last week, sources familiar with the situation told CNBC that the United States and China are discussing a late March meeting between Trump and Chinese President Xi Jinping in Florida.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.412 after touching highs above 96.9 last week.
The Japanese yen, often viewed as a safe-haven currency, traded at 110.66 against the dollar after touching lows above 110.8 last week. The Australian dollar changed hands at $0.7147 after seeing turbulence last week as it swung between highs above $0.720 and lows below $0.710.
Meanwhile, oil prices shed their earlier gains to see losses in the afternoon of Asian trade as the international benchmark Brent crude futures contract declined 0.18 percent to $67.00 per barrel. The U.S. crude futures contract also fell fractionally to $57.21 per barrel.
— Reuters, along with CNBC's Javier E. David and Evelyn Cheng, contributed to this report.