Chinese markets see modest gains after inflation and trade data

Asian stocks rose broadly on Monday amid hopes that another round of U.S.-China trade talks that will take place in London later today could help ease trade tensions between the two superpowers.

Beijing confirmed that Vice Premier He Lifeng will attend the talks. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer would likely be present with the U.S. delegation.

The dollar slipped against all major currencies, helping gold prices recover some ground after a two percent loss over the previous two sessions. Oil prices eased as data showed China's crude oil imports declined in May to the lowest daily rate in four months.

Chinese markets eked out modest gains after the release of inflation and trade data. The benchmark Shanghai Composite index rose 0.43 percent to 3,399.77 while Hong Kong's Hang Seng index climbed 1.63 percent to 24,181.43.

China's consumer price inflation dipped 0.1 percent year-on-year in May, while producer deflation deepened to its worst level in almost two years, according to the National Bureau of Statistics.

China's May export growth slowed to a three-month low while imports declined from last year due to weak demand, separate data from the customs office revealed.

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