EU member states gave their green light on Monday for the accord to take provisional effect before Thursday's deadline.
On December 24, Britain and the European Union agreed a post-Brexit deal that allayed the threat of disruption to business on January 1, when measures extending free trade are set to end.
Across the world, people were still being urged to respect social distancing guidelines.
Following the announcement of the political accord, von der Leyen's Commission will send the text to the remaining 27 European member states.
Failure to reach a deal would mean tariffs on cross-Channel trade in food and goods, exacerbating the economic shock of a return to a customs border after 47 years of integration.
Any trade deal reached by Barnier and Frost will have to be approved by the EU and UK parliaments, and special sessions may have to be held in the final days of this year.
After a slow start, Tokyo, Hong Kong and Shanghai were all well up, while Sydney put on more than one percent and Mumbai also enjoyed strong gains.
British Prime Minister Boris Johnson and EU chief Ursula von der Leyen had said after a crisis call that they would "go the extra mile" to find common ground.
In London, the government insists that Britain is ready to leave the union and handle its own affairs after 47 years of close economic integration.
Transport companies have also warned that EU member Ireland could see import volumes shrink in the event of new customs procedures for goods routed through Britain.
Failure to secure a deal in time for the end of the transition period on December 31 would see Britain revert to World Trade Organization rules, with tariffs and quotas, from January 1.
Johnson warned last-gasp talks for a Brexit trade deal with the European Union could fail, and urged the public to prepare for a "no deal."
The EU fears Britain slashing its regulations, which could allow its companies to undercut European firms.
Johnson has insisted Britain will "prosper mightily" whatever the outcome of the talks, but he will face severe political and economic fallout if he cannot seal a deal.
Finance minister Rishi Sunak told Sky News that Britain was facing an "economic emergency" because of the pandemic.
London has been resisting signing up to the EU's vision of a post-Brexit "level playing field", with trade penalties if either side diverges from agreed standards.
It comes despite Britain's economy suffering a historic downturn this year due to the coronavirus crisis.
The PM intends to address the country during his confinement, Downing Street said.
The BBC quoted a senior source in Johnson's Downing Street office as saying the divisive top aide would leave his job by Christmas.
Without a deal, Britain would leave the EU single market and customs union on January 1.
Prime Minister Boris Johnson and EU chief Ursula von der Leyen will speak on the state-of-play of the "EU-UK negotiations".
In the last two weeks, the Nordic country has recorded 45.7 new cases per 100,000 population -- the lowest rate in the EU according to the WHO.