Asia stock markets mixed in thin holiday trade on Monday as investors continued to monitor developments in U.S.-China trade relations. U.S. President Donald Trump reiterated on Sunday that China was interested in a deal, though he offered no details or timeline. Gold rose above $3,250 per ounce on Monday, driven by a weaker U.S. dollar, with traders awaiting further clarity on U.S.-China trade talks. Japan ( NKY:IND ) market closed. The Japanese yen appreciated toward 144 per U.S. dollar on Monday, extending gains from the previous session as the greenback weakened amid persistent global trade uncertainties. Markets are also closely watching the outcome of recent U.S.-Japan bilateral trade talks, with Tokyo aiming to conclude an agreement by June. Meanwhile, trading activity is expected to remain subdued on Monday due to a public holiday in Japan. China ( SHCOMP ) market closed, the offshore yuan strengthened to around 7.20 per dollar, extending gains to a six-month high despite the holiday in the mainland, lifted by a weaker greenback. In a Sunday interview, Trump reiterated his belief that China wants a deal but provided no specifics, stressing that any agreement must be “fair.” Hong Kong ( HSI ) market closed India ( SENSEX ) rose 0.60% reaching 81,018 in early trade on Monday, marking the second consecutive session of growth. The rise was driven primarily by sectors such as oil & gas, auto, metals, and consumer durables. Australia ( AS51 ) fell 0.91% . The Australian dollar climbed above $0.645 on Monday, reaching its highest level in nearly five months. The Melbourne Institute's Monthly Inflation Gauge rose 0.6% in April 2025, slowing slightly from March’s 15-month high of 0.7% and marking the second consecutive increase. The S&P Global Australia Services PMI Business Activity Index posted at 51 in April 2025, marking the fifteenth straight month of expansion, albeit at the slowest pace since February. Separately, following his re-election, Australian Prime Minister Anthony Albanese described his conversation with U.S. President Trump as "warm and positive," highlighting discussions on tariffs and the AUKUS defense pact. Albanese, who secured a second term, also expressed thanks for Trump's congratulations and confirmed plans for a future in-person meeting. ANZ-Indeed Australian Job Ads rose 0.5% month-over-month in April 2025, following a 0.4% increase in the previous month and marking the second straight monthly gain In the U.S., on Friday, all three major indexes ended higher, fueled by a strong jobs report and signs of easing US-China trade tensions that boosted investor confidence. U.S. stock futures edged lower on Monday as investors looked for new catalysts to sustain the recent market rally: Dow -0.67% ; S&P 500 -0.68% ; Nasdaq -0.67% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Australia private sector expands at 51 in April, services sector expands for 15th straight month Australia inflation gauge eases slightly in April by 0.6% Australia Q1 producer price inflation beats estimates; retail sales rises 0.3% in March BOJ keeps rates unchanged, revises down its growth outlook Japan's manufacturing PMI revised upward to 48.7 in April
