South Korea’s tech-heavy benchmark soared 1.5%, shares in Shanghai added 0.5%, while Hong Kong’s main index was up 0.5%

Asian stock markets mostly rose on Monday morning, boosted by international demand for artificial intelligence technology and positive signals from trade talks over the weekend between Chinese and US officials.

World stocks had finished last week mixed as central banks made moves to curb inflation.

Chinese and US officials met on Sunday for closely watched talks on trade and AI, ahead of a planned summit on Thursday between Chinese President Xi Jinping and US President Donald Trump in Washington.

Chinese state media described the talks as candid, in-depth and constructive.

Hong Kong’s main index was up 0.5% one hour after trading started on Monday morning.

South Korea’s tech-heavy benchmark soared 1.5%, while shares in Shanghai added 0.5%.

Tokyo was closed for a public holiday, while Sydney’s main index was down slightly.

Scott Bessent and Chinese Vice Premier He Lifeng have already laid the groundwork for the Trump-Xi meeting in New York, with trade, investment and artificial intelligence on the table, but this is not a market waiting for a grand bargain, wrote Stephen Innes at Quintex Intel.

It is waiting to see whether both sides can keep the next trade grenade in the drawer, he added.

Pressure has increased on monetary authorities around the world in recent months as oil prices remain higher due to the war between Iran and US, which shows little sign of ending anytime soon.

In a widely expected move, the Bank of Japan raised interest rates on Friday to a three-decade high, but the yen dipped against the dollar on fears the pace of hikes might be slower than expected.