MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent. Australian shares added 0.6 percent, Hong Kong's Hang Seng rose 0.7 percent and Shanghai climbed 0.4 percent. South Korea's KOSPI lost 0.2 percent and Japan's Nikkei trimmed earlier gains and was last 0.05 percent higher.
TOKYO: Stocks rose on Monday as U.S. Treasury Secretary Steven Mnuchin declared the U.S. trade war with China "on hold" following an agreement to drop their tariff threats that had roiled global markets this year.
U.S. S&P mini futures rose 0.60 percent in Asian trade on Monday.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.55 percent in early trade, led by strong gains in greater China. Hong Kong's Hang Seng was up 1.0 percent, Taiwanese shares 1.1 percent and mainland shares 0.4 percent.
Japan's Nikkei gained 0.4 percent.
Mnuchin and U.S. President Donald Trump's top economic adviser, Larry Kudlow, said the agreement reached by Chinese and American negotiators on Saturday set up a framework for addressing trade imbalances in the future.
"The weekend talk appears to have made progress. While they still need to work out details of a wider trade deal, it is positive for markets that they struck a truce," said Hirokazu Kabeya, chief global strategist at Daiwa Securities.
As safe-haven demand for debt fell, U.S. bond prices were under pressure, keeping their yields not far from last week's peaks.
The 10-year Treasuries yield stood at 3.065 percent
"Recent data suggests the U.S. economy is very strong, hardly slowing down in Jan-Mar. The world economy slowed in that quarter but it appears to be rebounding. And recent rises in oil prices are likely to lift inflation expectations further," said Tomoaki Shishido, senior fixed income analyst at Nomura Securities.
"We expect more selling until the next Fed's meeting in June," he said.
In the currency market, higher U.S. yields helped to strengthen the dollar against a wide range of currencies.
The euro dipped 0.1 percent to $1.1756
The common currency was also hit after two anti-establishment parties pledged to increase spending in a deal to form a new coalition government.
The dollar maintained an uptrend against the yen, rising 0.20 percent to fetch 110.97 yen,
Oil prices held firm near 3-1/2-year highs also on easing trade tensions between the world's two biggest economies.
The market is keeping an eye on Venezuela, where President Nicolas Maduro appeared to be set for re-election, an outcome that could trigger additional sanctions from the United States and more censure from the European Union and Latin America.
Oil prices have been supported by plummeting Venezuelan production, in addition to a solid global demand and supply concerns stemming from tensions in the Middle East.
U.S. crude futures rose 0.8 percent to
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