Japan's shares slid even as markets in Australia, South Korea and China gained on Monday as traders digested Friday's better-than-expected U.S. non-farm payroll and China's new economic targets announced at the National People's Congress (NPC) over the weekend.
The Nikkei 225 lost 103.46 points, or 0.6%, to 16,911.32
In Hong Kong, the Hang Seng index fell 16.98 points, or 0.1%, to 20,159.72
The Japanese yen also maintained its strength against the U.S. dollar, staying at the 113 handle. The pair traded at 113.69. Japanese exporters finished mixed, with Toyota down 2.1% and Nissan adding 2.2%. A stronger yen is usually a negative for exporters as it reduces their overseas profit when converted into local currency.
Energy plays across the region were mixed, with Santos adding 1.5% and Woodside Petroleum up 2.4%. Japanese oil plays Japan Petroleum, Inpex and Fuji Oil closed down as much as 2.1%.
CHINA
The Shanghai CSI 300 index added 10.95 points, or 0.4%, to 3,104.84
China's new economic targets for 2016, released on Saturday at the National People's Congress (NPC) meeting, included a revised growth target of between 6.5% and 7%, a consumer price index growth target of around 3% and a budget deficit at 3% of gross domestic product (GDP).
In China, before market open, the People's Bank of China (PBOC) fixed the yuan mid-point rate at 6.5113, compared with Friday's fix of 6.5284. The U.S. dollar/yuan pair was up 0.1% at 6.5136 in afternoon trade
Chinese infrastructure plays were mixed, with mainland-listed shares of China Communications Construction closing down 1%, while China Railway Construction was up 1% and China Railway Group shares were up 0.9%
Chinese metal players also finished higher, with Baoshan Steel adding 4.1%, Yunnan Copper up by 6.5% and Baotou Steel higher by 5%
Chinese mainland energy plays were mixed, with Sinopec adding 3% and Petrochina down 0.4%
In other markets;
In Korea, the Kospi index recovered 2.24 points, or 0.1%, to 1,957.87
In Taiwan, the Taiex Index moved higher 16 points, or 0.2%, to 8,659.55
In Singapore, the Straits Times Index dipped 13.49 points, or 0.5%, to 2,823.51
The NZX 50 in New Zealand inched forever 0.8 points to 6,418.93.
In Australia, the ASX 200 gained 52.79 points, or 1%, to 5,142.81
