(fxcue news) - Asian stocks rose broadly on Monday amid revived hopes for progress in trade talks and expectations of further stimulus from China. U.S. Treasury Secretary Scott Bessent said the Trump administration is working on bilateral trade deals with 17 key trading partners, not including China, and that the latter needs a de-escalation. Oil prices were little changed in Asian trade and gold fell over 1 percent below $3,300 per ounce as the dollar strengthened on easing Sino-U.S. tensions. China's Shanghai Composite index slipped 0.2 percent to 3,288.41 as investors awaited the details of new stimulus from a key economic policy meeting. China's finance minister Lan Fo'an said the country will take measures to achieve its annual economic growth target of around 5 percent despite escalating trade tensions. Hong Kong's Hang Seng index finished marginally lower at 21,971.96 as China denied any talks with the U.S. over tariff exemptions, calling out Washington for 'misleading' the public. Japanese markets eked out modest gains ahead of the Bank of Japan's rate decision due later in the week, with no policy change expected. Japan's top currency diplomat Atsushi Mimura today denied a newspaper report that U.S. Treasury Secretary Scott Bessent called for a stronger yen against the dollar. The Nikkei average rose 0.38 percent to 35,839.99, extending gains for a fourth day running as U.S. tariff negotiations progress. The broader Topix index settled 0.86 percent higher at 2,650.61 ahead of a national holiday on Tuesday. Toyota Motor rallied 3.6 percent after an announcement that it may invest in key parts supplier Toyota Industries. Seoul stocks edged up slightly in cautious trade as investors assessed interim progress in trade negotiations between Seoul and Washington. The Kospi average inched up by 0.1 percent to 2,548.86, extending gains for a second session after Industry Minister Ahn Duk-geun said that South Korea plans to approach trade talks with the United States "calmly and cautiously." Earlier, the U.S. Treasury Department said that Thursday's discussions were focused on "an expanded equilibrium which encourages rather than restricts trade." Australian markets closed higher for a third consecutive session, with tech and energy stocks pacing the gainers. The benchmark S&P/ASX 200 rose 0.36 percent to 7,997.10 amid rising expectations of an RBA rate cut in May. The broader All Ordinaries index ended up 0.35 percent at 8,203.90. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index climbed 0.67 percent to 12,098.89. U.S. stocks ended on a firm note Friday and logged strong gains for the week amid optimism that the worst of the tariff-induced uncertainty is over. President Trump told Time magazine that tariff negotiations were underway with China and that Chinese President Xi Jinping had called him, but Beijing denied the claims and said "U.S. should stop creating confusion." Investors shrugged off data that showed U.S. consumer sentiment fell to one of the lowest readings on record and long-term inflation expectations climbed to the highest since 1991 due to Trump's trade war. The tech-heavy Nasdaq Composite rallied 1.3 percent, and the S&P added 0.7 percent to extend gains for the fourth straight session while the narrower Dow ended flat with a positive bias.