News by: Himanshu Singh
Shares gained as investors weighed economic data ahead of a meeting of Fed policymakers that begins today.
Japan’s Topix index jumped 1.4%, while the benchmark Nikkei 225 Stock Average gained 1.2%.
Shares gained after government data showed retail sales rose more than expected in May and first-time applications for jobless benefits fell last week.
The Dow Jones fell 127 points, the S&P 500 was down 14 points and the Nasdaq lost 37 points in volatile trading.
Financial and energy shares led the decline after Japan's central bank disappointed investors by holding its monetary policy steady.
Homebuilders declined the most with Lennar Corp losing 3.3% after JP Morgan downgraded the company's stock to "neutral" from "overweight".
The Nikkei average soared 3.1%, after dropping as much as 2.8% and temporarily entering bear market territory on Friday.
The Standard & Poor’s 500 Index erased earlier losses to snap a two-day losing streak in a volatile trading.
Shares fell more than 1% as jobs and factory data missed estimates and amid concerns Fed may begin to scale back its bond-buying stimulus.
Growth-oriented sectors were among the hardest hit as economists predicted the Federal Reserve may reduce stimulus as soon as September.
Federal Reserve Bank of Atlanta President Dennis Lockhart said in an interview that central bank officials are committed to record stimulus measures.
Stocks decline after positive US economic data increased concern the Fed will scale back its stimulus and a survey showed China’s manufacturing shrank.