India, May 12 -- Asian stocks rose on Monday after trade talks between the U.S. and China showed progress in de-escalating tensions. Ahead of a joint statement to be released later in the day, financial markets and businesses are waiting to learn what marathon talks over the weekend achieved.
The U.S. dollar index was under pressure, slipping for the second straight day amid economic concerns and uncertainty over the Federal Reserve's rate path.
Oil prices surged, while gold remained under pressure and traded at a fresh weekly low below $3,250 per ounce on easing demand for havens after China and the U.S. touted "substantial progress" in their trade talks.
China's Shanghai Composite Index jumped 0.8 percent to 3,369.24 following the trad...