Asian stocks turned in a mixed performance on Monday amid interest rate uncertainty and concerns over a possible government shutdown in the U.S.<\/p>\n
The dollar and Treasuries gained ahead of crucial U.S. inflation data due this week, while gold struggled to gain after falling by the most in more than a month last week. Oil prices traded lower in Asian trade after rising sharply on Friday. Markets were closed in Singapore and Malaysia for a holiday.<\/p>\n
China’s Shanghai Composite Index rose 0.3 percent to 3,046.53 on optimism over an upcoming summit between U.S. President Joe Biden and his Chinese counterpart Xi Jinping in San Francisco this week.<\/p>\n
Hong Kong’s Hang Seng Index jumped 1.3 percent close at 17,426.21. JD.com rallied 1.8 percent and Alibaba Group Holding added 1.3 percent after reporting a pickup in sales for Singles’ Day.<\/p>\n
Japanese shares gave up early gains to end on a flat note as data showed producer price inflation in the country fell sharply in October to hit a two-year low.<\/p>\n
The Nikkei 225 Index finished marginally higher at 32,585.11 after rising more than 1 percent in early trading. The broader Topix ndex settled with a negative bias at 2,336.62.<\/p>\n
Cosmetics maker Shiseido plunged 14.3 percent after slashing its annual profit forecast. Chip-related stocks followed their U.S. peers higher, with Advantest, Tokyo Electron and Screen Holdings gaining between 1.3 percent and 1.7 percent.<\/p>\n
Education service provider Benesse Holdings soared 20.5 percent after announcing it will go private through a management buyout scheme.<\/p>\n
Seoul stocks edged lower as positive exports data was offset by concerns of a potential U.S. government shutdown following a cut in Moody’s rating outlook for the United States. The Kospi slipped 0.2 percent to 2,403.76.<\/p>\n
Australian markets<\/span> closed lower, dragged down by financials and gold miners. The benchmark S&P\/ASX 200 Index dropped 0.4 percent to 6,948.80 as investors fretted about further upside surprises to domestic inflation. The broader All Ordinaries Index settled 0.4 percent lower at 7,145.<\/p>\n Lender ANZ Group Holdings tumbled 3 percent after its annual profit fell short of market forecasts. TPG Telecom slumped 11.7 percent after ending talks with Vocus Group for the sale of some of its non-mobile fibre assets.<\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX 50 Index fell 0.4 percent to 11,093.03, marking its lowest close since November 2.<\/p>\n U.S. stocks rallied on Friday to notch a second week of gains as Treasury yields stabilized after surging the previous day. <\/p>\n Investors shrugged off reports showing deteriorating consumer sentiment and rising inflation expectations. <\/p>\n The tech-heavy Nasdaq Composite surged 2.1 percent to log its best single-day gain since May, while the Dow and the S&P 500 climbed 1.2 percent and 1.6 percent, respectively, to reach their best closing levels in well over a month. <\/p>\n