Asian stock markets ended mixed Monday, with Japanese and Australian shares advancing on steep gains in financials such as Mitsubishi UFJ Financial Group and Macquarie Group on hopes of a rate cut by the U.S. Federal Reserve.
The Nikkei 225 stock index gained 30.9 points, or 0.2 percent, to 13,894.37; In Hong Kong, investors sought the safety of utility companies amid the uncertainty. The blue-chip Hang Seng Index rose 0.6 percent, to 25,666.29.
Japanese financial stocks soared after gains in their counterparts on Wall Street last week. Mitsubishi UFJ Financial Group jumped 10 percent. Mizuho Financial Group closed up 9.5 percent, while Shinsei Bank jumped 13.5 percent.
In other news, Japanese retail sales climbed 1.1% in March from the year-earlier month, registering an increase for the eighth consecutive month, according to official data. But the overall sales gains were almost flat when the effects of inflation and a jump in automobile sales were stripped out, they added.
Elsewhere:
Australia's S&P/ASX 200 index finished 0.3% higher to 5,602.70.
New Zealand's NZX 50 index added 0.7% to 3,642.63, as trading resumed in both markets after an extended holiday weekend.
India's Sensitive Index, or Sensex, lost 0.4% to 17,055.01 in afternoon trading, unable to sustain early gains, while the broader S&P/CNX Nifty gave up 0.2% to 5,100.45.
China's Shanghai Composite index ended 2.3% lower at 3,474.72, hurt by weak results reports.
South Korea's Kospi slipped 0.1% to 1,823.17.
Taiwan's Weighted index advanced 1.5% to 9,079.60.
with files from other wire services
