U.S. President Donald Trump said on Monday he told leaders of Japan and China they cannot continue to reduce the value of their currencies as doing so would be unfair to the United States. "I've called President Xi,

Asian markets rose cautiously on Monday, with investors eyeing a potential Chinese stimulus package and President Donald Trump's looming tariffs. London, Paris and Frankfurt all opened up, with investors focused on geopolitics as European leaders meet in London to draft a possible Ukraine peace plan after Trump's clash with Ukrainian President Volodymyr Zelensky in the Oval Office last week.

Beijing is studying both tariff and non-tariff moves to counter the U.S. president's higher tariffs, per Chinese state media.

The outlook for emerging Asian currencies is worsening again after US President Donald Trump announced new tariffs on China, curbing optimism that his threats were mainly bargaining ploys.