Asian shares rise broadly, China benchmark index rise 0.72%

Asian shares rose broadly in thin trade on Monday, with Japanese markets closed for a holiday.

Investors watched the latest trade developments, with U.S. Commerce Secretary Howard Lutnick saying he was confident the U.S. and the EU could reach a trade deal before August 1.

U.S. stock futures edged higher ahead of key earnings reports from major tech companies, with Tesla and Google parent Alphabet set to unveil their earnings results on Wednesday, followed by Intel on Thursday.

Investors also looked ahead to a busy week of U.S. housing market data and comments from central bankers, including Federal Reserve Chairman Jerome Powell at a banking conference, as Trump piles pressure on him over rates and renovations at the U.S. central bank's headquarters.

Gold prices rose on a weakening dollar as investors debated the Federal Reserve's next move and U.S. President Donald Trump reiterated that a 10 percent tariff would be imposed on any BRICS nation actively working to bypass the dollar in international trade.

Oil prices were marginally lower in Asian trade as investors weighed the prospect of increased supply from OPEC+ against new sanctions on Russia.

China's Shanghai Composite index climbed 0.72 percent to 3,559.79 as the People's Bank of China held the 1-year loan prime rate at 3.0 percent and 5-year LPR at 3.5 percent, as expected.

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