Asian markets ended mostly higher on Monday, as traders shrugged off data released over the weekend that revived concerns over the Chinese economy.
Japan’s Nikkei 225 pared some of its over 1 percent gains from early morning to close up 54.19 points, or 0.33 percent, at 16,466.40, while across the Korean Strait, the Kospi ended near flat at 1,967.91. In Hong Kong, the Hang Seng index was up 0.58 percent as of 3:05 p.m. HK/SIN.
Chinese mainland markets reversed their morning losses, with the Shanghai composite closing up 23.82 points, or 0.84 percent, at 2,850.93, and the Shenzhen composite ended higher by 30.69 points, or 1.72 percent, at 1,815.02.
Australia’s ASX 200 finished up 29.91 points, or 0.56 percent, at 5,358.90, with a 0.57 percent gain in the financials sub-index which accounts for nearly half of the broader index.
Some of the mining stocks came under pressure, with shares of Sandfire Resources closing down 0.18 percent and South32 off by 1.48 percent. Major miners were positive, with Fortescue up 1.04 percent and Rio Tinto higher by 1.25 percent.
Angus Nicholson, a market analyst at spreadbetter IG, said relative strength in the dollar, following positive U.S. April retail sales numbers released on Friday, will likely increase challenges for the materials and energy space.