Stocks in Asia rose on Monday after U.S. President Donald Trump's announcement last week that tariffs would not be slapped on Mexican goods.

Mainland Chinese stocks were higher on the day, with the Shenzhen component jumping 1.48% to close at 8,711.79 and the Shenzhen composite rising 1.334% to end its trading day at 1,483.23. The Shanghai composite also gained 0.86% to close at 2,852.13.

Over in Hong Kong, the Hang Seng index surged 2.03% as shares of Chinese tech giant Tencent soared 2.91%.

Official Chinese trade data for May showed the country's exports beating forecasts and imports falling short of expectations, leaving it with an overall trade surplus of $41.65 billion for the month.

May exports in China rose 1.1% as compared to a year earlier against expectations of a 3.8% decline by analysts in a Reuters poll. Imports, which were also expected to fall 3.8%, dropped 8.5% instead.

"Looking forward, we expect only modest sequential export growth as global trade remains tepid, while China's exports outlook will continue to be challenged the renewed escalation of US-China trade tensions – with both sides having raised tariffs on each other's exports again recently," Louis Kuijs, head of Asia economics at Oxford Economics, wrote in a note.

The onshore Chinese yuan touched its lowest point in 2019 following the data release. It last traded at 6.9324 against the dollar, while its offshore counterpart also declined to 6.9489 against the greenback.

The , whose fortunes are often seen to be closely tied to that of China given the two countries' trade relationship, changed hands at $0.6967 following an earlier high of $0.7022.

Japan's Nikkei 225 jumped 1.2% to close at 21,134.42, while the Topix index gained 1.34% to finish its trading day at 1,552.94. Data on Monday showed that Japan's economy grew at a slightly higher annualized rate than initially estimated —2.2% in the January to March period, as compared to economists' median forecast of 2.1% growth in a Reuters poll.

South Korea's Kospi also rose 1.31% to close at 2,099.49, with shares of chipmaker SK Hynix gaining 2.14%.

Auto shares in both markets jumped on the news that Trump had withdrawn his tariff threat on Mexican goods. They had initially tumbled when the levies were announced.

South Korea's Kia Motors surged 4.5%, while Japan's Toyota bounced 1.79%, and Nissan rose 0.84%. Mexico is used as a production base by many Japanese automakers.

Markets in Australia were closed on Monday for a holiday.