China's Shanghai Composite index edges up by 0.12%

Asian shares rose broadly on Monday, though Japanese markets fell sharply due to profit taking after last week's rally.

Underlying sentiment remained supported somewhat as the EU and the U.S. struck a last-minute trade agreement and reports suggested the U.S. and China are likely to extend their tariff truce for another 90 days.

The EU-U.S. agreement includes a 15 percent tariff on EU goods, down from the 30 percent originally proposed.

The EU has committed to purchasing $750 billion worth of U.S. energy and investing $600 billion more into the American economy as part of the agreement.

The dollar index held near a one-week high ahead of a busy week for markets, with key data releases, the Federal Reserve's interest-rate decision and earnings reports from major tech companies awaited.

Magnificent Seven members Apple Inc., Amazon.com Inc., Microsoft Corp. and Meta Platforms Inc. are all due to report their numbers this week.

Gold held steady near $3,340 per ounce in Asian trade while oil prices climbed on optimism that the U.S.-EU trade deal could boost economic activity and lift energy demand.

China's Shanghai Composite index edged up by 0.12 percent to 3,597.94 ahead of U.S.-China talks in Stockholm to resolve trade tensions and extend the truce before it expires on August 12.

Investors shrugged off data that showed China's industrial earnings fell for a second straight month in June.

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