The Australian stock market saw a 0.63% surge in the S&P/ASX200 index on Monday, influenced by positive sentiment from Wall Street and China's stimulus measures.

The energy and materials sectors were the primary drivers of the gains, with Paladin Energy experiencing a notable 7.6% surge.

The Star Entertainment Group's shares soared by 20%, fueled by potential takeover interest.

In Japan, the Nikkei Stock Average rose by 0.73% on Monday, amid concerns over rising borrowing costs as the benchmark bond yield hit its highest level since 2013.

Shin-Etsu Chemical's shares climbed by 4.2% due to a share buyback plan.

The Japanese yen traded at around 155 against the US dollar, highlighting worries about the interest rate differential between Japan and the US.

Investors are closely watching for the release of the RBA's meeting minutes on Tuesday.