This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets are mostly higher Monday as U.S. President Donald Trump's April 2 tariff deadline looms.

Australia's S&P/ASX 200 added 0.07% to close at 7,936.9.

South Korea's Kospi was down 0.42% to close at 2,632.07 while the small-cap Kosdaq added 0.11% to close at 720.22 after South Korea's Prime Minister Han Duck-soo's impeachment was struck down by the country's Constitutional Court.

Japan's Nikkei 225 slipped 0.18% to close the trading day at 37,608.49 while the Topix lost 0.47% to close at 2,790.88.

Hong Kong's Hang Seng Index advanced 0.91% to close at 23,905.56 and mainland China's CSI 300 rose 0.51% to close at 3,934.85 after China's Premier Li Qiang cautioned "rising instability" and called for countries to open up markets and enterprises.

U.S. stock futures were higher, signaling that equities could extend their recent gains.

Last Friday in the U.S., the three major averages closed higher. The indexes rebounded from their lows after Trump mentioned there would be some "flexibility" regarding tariffs. However, he reiterated the April 2 deadline for reciprocal tariffs.

The S&P 500 added 0.08% to close at 5,667.56, rising into positive territory to end four consecutive weeks of declines that were brought on by trade policy turmoil, recession fears and a rollover in megacap tech shares. The Nasdaq Composite gained 0.52% and settled at 17,784.05, while the Dow Jones Industrial Average advanced 32.03 points, or 0.08%, to close at 41,985.35.

CNBC's Brian Evans, Sean Conlon and Hakyung Kim contributed to this report.

Singapore inflation hits four-year low, below average MAS forecast for 2025

Singapore's consumer price index grew 0.9% year on year in February, marking its slowest growth in four years, the Department of Statistics said in a release on Monday.

The figure was in line with expectations by economists polled by Reuters, and lower than January's figure of 1.2%.

Core inflation, which strips out prices of accommodation and private transport, came in at 0.6%, lower than the 0.8% seen in January and the 0.7% expected by the Reuters poll.

Read the full story here.

—Lim Hui Jie

Shares of Sumitomo rise after activist fund builds significant stake

Shares of Japanese real estate firm Sumitomo Realty & Development surged over 12% after Elliott Investment Management reportedly acquired a significant stake in the company, Bloomberg reported on Monday, citing sources familiar with the matter.

Elliot Investment Management has been in discussions with Sumitomo Realty & Development on strategies to enhance shareholder value, the sources noted.

—Lee Ying Shan

South Korea's Prime Minister Han Duck-soo's impeachment struck down by Constitutional Court

South Korea's Constitutional Court on Monday struck down Prime Minister Han Duck-soo's impeachment, local media reported, reinstating him as acting president.

He will take over the post from current acting President and Finance Minister Choi Sang-mok.

Han was impeached by the opposition Democratic Party in December, after he reportedly refused to appoint three more justices to the Constitutional Court that was looking into the impeachment of President Yoon Suk-yeol after he briefly imposed martial law.

Read the full story here.

Morgan Stanley raises China 2025 GDP forecast

Morgan Stanley raised its 2025 GDP forecast for China to 4.5% in light of robust activity data in January to February.

"We raise our 2025 GDP forecast by 50 bps to 4.5% on a stronger-than-expected starting point and solid capex momentum, aligning with consensus," Morgan Stanley's analysts wrote in a note.

However, a further broadening-out of the growth recovery may be stunted by the impact of U.S. President Donald Trump's tariffs and reactive policy responses, the investment bank cautioned.

—Lee Ying Shan

Stocks close out the week in the green

Stocks finished in positive territory on Friday after a week of volatility.

The S&P 500 moved 0.08% higher to close at 5,667.56, while the Nasdaq Composite jumped 0.52% to close at 17,784.05. The Dow Jones Industrial Average also inched 32.03 points, or 0.08%, higher to settle at 41,985.35.

— Sean Conlon

Tariff anxiety is likely to cap upside until April 2, Barclays says

There is unlikely to be any real stock upside until there is clarity on the tariff front, which could come April 2 when several duties are expected to take effect, according to Barclays.

"Stocks have bounced from oversold level, but tariffs anxiety will likely cap upside ahead of April 2nd," Emmanuel Cau, head of European equity strategy, wrote in a note.

"With Trump dubbing the April 2nd tariffs deadline as a 'liberation day,' it is hard to ignore the downside risks, especially if a worst case scenario of 25% blanket tariffs materialises," Cau added.

— Sarah Min