In Australia, the S&P/ASX 200 Index is up 0.18% at 8,325.50, recovering from losses in the previous session. Gains are led by iron ore miners and technology stocks, while gold miners weigh on the index.

Sentiment also was helped by upbeat comments by U.S. and Chinese officials ahead of President-elect Donald Trump's inauguration later Monday. Pledges by both sides to work to improve relations may have alleviated some concerns over trade tensions that have built up as businesses brace for a possible increase in tariffs on Chinese exports to the U.

Most Asian markets rose Monday following a rally on Wall Street and record-breaking day in Europe, with sentiment boosted by positive talks between Donald Trump and Chinese President Xi Jinping