Asian began the new trading week mostly higher on Monday still riding on the strong Chinese economic data last week which fueled a rally in commodity prices.
In Japan, tougher global capitalization regulations hurt the Nikkei. Investors have taken a bit of a “wait and see” approach as the Bank of Japan has begun a two-day meeting on quantitative easing. Same store sales data was bleak as unseasonable weather affected sales which were down 20% in September.
Japan's Nikkei closed down 23.17 points, or .25%, to 9,381.06.
Also in Japanese news -- Nojima Corp., a Yokohama-based operator of electronics shops, offered to acquire the Yokohama Bay Stars baseball team from Tokyo Broadcasting System Holdings Inc. believing that ownership of the team will help with branding the Nojima name. Shares of Nojima closed up over 5%.
Shares of Kuraudia popped 12.77% to 1,219 yen on news the wedding dress manufacturer will be buying back up to 320 million yen of its own shares between Oct. 4 and Nov. 22.
The Shanghai Stock Exchange was closed Monday in observance of the start of a week-long holiday.
The Hong Kong market climbed on Monday as confidence is still high from the solid Chinese manufacturing data released last week. Benefiting from the increased manufacturing, resources stocks led the rally.
Shares of Petrochina, the world's second-most valuable oil and gas producer, climbed 3.7%.
China Mining Resources Group launched north; up 9.1% on news that the Company was buying a 70% stake in the online television company, Year Joy, for HK$1.4 billion.
The Hang Seng closed up; rising 1.17% to 22,618.66.
Elsewhere, the smaller markets were primarily green:
South Korea's Kospi increased 2.56% to 1,879.29.
Australia's S&P/ASX 200 climbed 1.01% to 4,625.301.
India's Sensex fell .03%.
Malaysia's Kuala Lumpur Composite Index dropped 4.05 points to 1,462.27.
Indonesia's Jakarta Composite Index was a winner again as it rose .63%.
Shenzhen Composite gained 1.670% to 1,223.250. (Data from September 30, 2010. Exchange closed for holiday today.)
Taiwan's Taiex rose .02%.
Singapore's Straits Times Index climbed .85%.
New Zealand's NZX 50 closed up .50%.
Philippine shares were up 1.856%.
Shares in Thailand dropped 1.467%.
