This is CNBC's live blog covering Asia-Pacific markets.

Asian markets climbed Monday as investors awaited trade talks between Washington and Beijing later in the day, and digested China inflation and trade data.

Trade tensions are seemingly easing between the world's top two economies as China has reportedly granted temporary approvals for the export of rare earths, while jetliner Boeing Co has begun commercial jet deliveries to the Asian superpower.

China's consumer price inflation fell by 0.1% year on year in May, smaller than the 0.2% decline forecast by economists polled by Reuters, while producer price index declined 3.3%, compared to a 3.2% drop expected by analysts.

The country's exports growth missed expectations in May, as shipments to the U.S. declined sharply.

Mainland China's CSI 300 index rose 0.23% while Hong Kong's Hang Seng Index added 1.22%, and the tech-heavy Hang Seng Tech index surged 2.39%.

Japan's benchmark Nikkei 225 added 0.92% to end the day at 38,088.57, while the broader Topix index rose 0.58% to 2,785.41.

The country's GDP contraction for the January to March quarter narrowed to an annualized 0.2%, from the 0.7% print released previously, revised estimates showed.

In South Korea, the Kospi index climbed 1.55% to end the day at 2,855.77 while the small-cap Kosdaq rose 1.06% to 764.21.

India's benchmark Nifty 50 was up 0.43%, while the BSE Sensex added 0.37%.

Australian markets are closed for a public holiday.

U.S. equity futures fell during Asia hours.

All three key benchmarks on Wall Street jumped last Friday, after the non-farm payrolls data came in better-than-expected.

U.S. payrolls climbed 139,000 in May, the Bureau of Labor Statistics reported Friday, above the Dow Jones forecast of 125,000 for the month but less than the downwardly revised 147,000 in April.

The Dow Jones Industrial Average popped 443.13 points, or 1.05%, to close at 42,762.87. The blue-chip index was up more than 600 points at its highs of the session.

Meanwhile, the the broad-based S&P 500 also gained 1.03% — surpassing the 6,000 level for the first time since late February — and settling at 6,000.36, while the Nasdaq Composite rallied 1.20%, to end at 19,529.95.

— CNBC's Sean Conlon and Jesse Pound contributed to this report.

Chinese stocks listed on the Hong Kong exchange have entered a bull market, as investors await the details of the trade deal and digest fresh data out of China.

As of 2.50 p.m. local time, the Hang Seng China Enterprises Index, which captures the performance of mainland China stocks listed in Hong Kong, was up 1.36% to 8,733, more than 20% higher than its April 7. close of 7,262.72.

Gains were led by the industrials, educational services and real estate sectors.

The top three performing stocks on the index were Meituan, up 5.36%, Kuaishou Technology, up 4.83% and JD.com that rose 4.58%.

The Hang Seng China Enterprises Index ETF reflects the day's moves:

— Amala Balakrishner

China's exports growth missed expectations in May, dragged down by a sharp decline in shipments to the U.S., despite a temporary trade truce that paused most tariffs for 90 days.

Chinese exports to the U.S. plunged 34.5% from a year ago, marking the sharpest drop since February 2020, according to Wind Information. Imports from the U.S. dropped over 18%, as the country's trade surplus with the U.S. shrank by 41.55% year-on-year to $18 billion.

Overall exports rose 4.8% last month in U.S. dollar terms from a year earlier, customs data showed Monday, shy of Reuters' poll estimates of a 5% jump.

Imports plunged 3.4% in May from a year earlier, a drastic drop compared to economists' expectations of a 0.9% fall. Imports had been declining this year, largely owed to sluggish domestic demand.

Read the full story, here.

— Anniek Bao

Hong Kong's Hang Seng Tech Index traded 2.71% higher as of 11.30 a.m. local time.

Top performers include Kingdee International Software group, which rose 8.07%, Tencent Music Entertainment Group, up 6.53%, Kuaishou Technology gained 6.18%.

Strong moves were also seen in SenseTime Group which advanced 5% and Meituan which gained 4.87%.

The Hang Seng Tech Index ETF shows the day's moves:

— Amala Balakrishner

South Korean stocks extended gains for the fourth consecutive session on Monday as investors await President Lee Jae-myung's capital market reforms.

As of 12.15 p.m. local time, the Kospi index had popped 1.72% to 2,850.38, its highest level since July 2024. The index has gained over 19% since the start of the year.

Meanwhile, the small-cap Kosdaq index was last seen trading up 0.73% at 761.73, its highest since February. The index has risen 12.31% since the start of the year.

Gains were broad-based across sectors, with strong moves seen in Hyundai Motor, up 4.35%, Lotte Shopping and SK Inc both up more than 5%, while K-pop group Hybe gained 6.18%.

Among the index heavyweights, Samsung Electronics was last seen up 1.86% while SK Hynix added 2.23%.

— Amala Balakrishner

China's consumer prices fell for a fourth consecutive month in May, as Beijing's stimulus measures appear insufficient to boost domestic consumption while trade tensions simmer.

The consumer price index fell 0.1% from a year earlier, according to data from the National Bureau of Statistics released Monday, compared with Reuters' median estimate of a 0.2% drop.

Read the full story, here.

— Anniek Bao

The Japanese economy contracted at a slower pace than expected in the first quarter of 2025, revised estimates released by the Cabinet Office on Monday show.

The country's gross domestic product fell at an annualized pace of 0.2% in the January to March quarter, compared with a 0.7% decline estimated earlier, data released by the Cabinet Office on Monday showed. Economists polled by Reuters had expected the revised reading to remain the same as initial data.

Market watchers are keeping a watch on the Bank of Japan's monetary policy stance, given that it slashed its growth and inflation forecasts for the year at its May 1 policy meeting.

The central bank is set to hold a two-day policy meeting next week.

— Amala Balakrishner

President Donald Trump called on Federal Reserve Chair Jerome Powell on Friday to cut interest rates by a full percentage point, even as May's nonfarm payrolls report exceeded expectations.

"'Too Late' at the Fed is a disaster! Europe has had 10 rate cuts, we have had none. Despite him, our Country is doing great," Trump wrote in a post on Truth Social. "Go for a full point, Rocket Fuel!"

As it stands, traders are pricing in essentially no chance of any rate cut in June following the Fed's next meeting later in the month, according to CME's Fedwatch tool.

— Kevin Breuninger, Jeff Cox