Strong employment data from the U.S. helped Japanese and Australian stocks climb on Monday, though the latest chain of economic data from China weighed on sentiment, especially in Shanghai.
In Japan, the Nikkei 225 Index gained 65.43 points, or 0.5%, to 12,349.05
In Hong Kong, the Hang Seng index shaved off 1.13 points to 23,090.82
Australian stocks closed higher. Mining stocks were lower, hurt by the Chinese data, while some local banks gained:
Rio Tinto fell 2% and BHP Billiton lost 0.8%, while National Australia Bank added 1.7% and Commonwealth Bank of Australia rose 0.4%.
The U.S. dollar rose sharply against the yen on Friday and was steady at Y96.03 late in Asian trade on Monday.
Japanese stocks climbed amid a weaker yen. Shares in exporters benefited from the softer currency: Toyota Motor Corp. advanced 1.8% and Honda Motor Co. was 2.6% higher.
Also in Japan, stocks in sectors sensitive to monetary easing — such as the financial and real estate sectors — continued to climb.
Expectations for looser monetary policy were higher before the confirmation of the new Bank of Japan governor, with the change in leadership at the Bank of Japan expected to take place next week.
Sumitomo Mitsui Financial Group rose 6.7% and Mitsubishi Estate Co. gained 1.5%.
CHINA
Chinese inflation jumped to 3.2% in February from 2% in January, the highest increase since April of last year. At the same time, the country’s domestic economy showed some signs of weaker activity: slowing growth in industrial production and retail sales.
The Shanghai CSI 300 Composite 300 index fell 14.56 points, or 0.6%, to 2,592.37
Higher-than-expected inflation could raise concerns that Beijing will start monetary tightening.
It might be too early to call a serious slowdown in the Chinese recovery, as the latest data may have been affected by the Chinese New Year, a period often associated with sharply higher prices for food and other goods. The period occurred in January in 2012 and February in 2013.
In other markets
In Korea, the Kospi Index slid 2.66 points, or 0.1%, to 2,003.35
In Taiwan, the Taiex Index prospered 23.58 points, or 0.3%, to 8,038.72
The Singapore Straits Times Index added 3.44 points, or 0.1%, to 3,292.97
In New Zealand, the NZX 50 index gained 12.55 points, or 0.3%, to 4,366.57
In Australia, the S&P/ASX added 23.46 points, or 0.5%, to 5,146.91
