Asian Shares Mixed As China Data Disappoints

(RTTNews) - Asian stocks ended mixed on Monday as China reported mixed economic data and focus shifted to the Bank of Japan and Federal Reserve rate decisions due this week.

The dollar hovered close to a three-week peak versus major peers and the Japanese yen struggled to recover following its worst week since September after reports emerged that the Bank of Japan is leaning towards keeping rates steady this week.

Gold ticked higher in Asian trade while oil prices dipped on China demand concerns. China's Shanghai Composite index dipped 0.16 percent to 3,386.33 as traders weighed mixed readings against a vow from the nation's regulators to stabilize markets.

Hong Kong's Hang Seng index fell 0.88 percent to 19,795.49 despite reports that China might cut interest rates and the reserve requirement ratio in a timely manner next year.

China's official data released today painted a mixed picture for growth in November.

Industrial production posted a faster expansion and house prices fell at slower pace, while retail sales growth softened, highlighting the need for additional stimulus to retain sustainable growth.

Japanese markets ended a choppy session lower amid caution before the Bank of Japan's two-day policy meeting starting Wednesday.

The Nikkei average finished marginally lower at 39,457.49 while the broader Topix index closed 0.30 percent lower at 2,738.33.

Seoul stocks ended slightly lower after President Yoon Suk Yeol was impeached on the weekend. The Kospi average settled 0.22 percent lower at 2,488.97, giving up early gains due to profit taking after four days of gains.

Samsung Electronics, Hyundai Motor and Kia Corp dropped 1-3 percent while SK Hynix jumped 2.2 percent.

Australian stocks ended lower, dragged down by technology and mining stocks. The benchmark S&P/ASX 200 shed 0.56 percent to close at 8,249.50 while the broader All Ordinaries index fell 0.66 percent to 8,494.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index edged up by 0.34 percent to 12,797.33.

U.S. stocks fluctuated before ending narrowly mixed on Friday as rising Treasury yields offset Broadcom's bullish AI-fueled sales forecast.

The Dow dipped 0.2 percent to end lower for the seventh consecutive session - marking its longest run of losses since 2020.

The tech-heavy Nasdaq Composite edged up by 0.1 percent while the S&P 500 closed marginally lower.