However, concerns over a broader trade war capped regional gains after U.S. President-elect Donald Trump demanded a commitment from the BRICS nations on using the dollar, warning they shouldn't move to create a new currency or endorse any other currency to replace the dollar.
"The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch is OVER," Trump said in a post to his Truth Social network on Saturday.
He has threatened a 100 percent tariff on the bloc of nine nations if they undercut the U.S. dollar.
China's yuan fell to its lowest level since July 24 despite impressive PMI numbers.
Gold prices fell nearly 1 percent as Trump's tariff threat bolstered the dollar. Oil ticked higher on improved China data and as Israel resumed attacks on Lebanon despite a ceasefire pact, stoking tensions in the Middle East.
China's Shanghai Composite index rallied 1.13 percent to 3,363.98 after a private survey showed the manufacturing sector in the country expanded at a faster pace in November, with the corresponding PMI rising to 51.5 from 50.3 in October.
Also Read
The manufacturing sector in China continued to expand in November, and at a faster pace, the latest survey from Caixin revealed on Monday with a manufacturing PMI score of 51.5.
That's up from 50.3 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content