Mumbai, March 3 -- Asian stocks advanced on Monday as new PMI data suggested China's manufacturing had a solid start to 2025 and European leaders pledged to assemble a "coalition of the willing" to develop a plan for ending Ukraine's war with Russia.

On the trade front, speculation swirled over exactly what U.S. President Donald Trump has planned on new tariffs that will come into force from Tuesday.

U.S. Commerce Secretary Howard Lutnick said that Canada and Mexico had done a "reasonable job" securing their borders, but fentanyl continued to flow into the U.S.

That is a fluid situation and the President will determine whether to stick with the planned 25 percent level, Lutnick told the Fox News program, Sunday Morning Futures.

Howeve...