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Asian stocks mixed after G-20 meeting

Shares of the troubled Japanese electronics maker Sharp were down as much as 4.55% in early trade.

 
Asian stocks mixed after G-20 meeting

Asian stocks were mixed on Monday in mid-morning session as Tokyo shares rallied for a third day and Group of 20 leaders pledged to use fiscal policy to strengthen growth and job creation.

The Japanese benchmark index, Nikkei 225, was up 0.4%, after earlier trading up as much as 1.5%. Chinese markets opened in negative territory, with the main Shanghai composite down 4.07%. In Hong Kong, the Hang Seng Index fell 0.78%.

Across the Korean Strait, the Kospi was up 0.25%. Hong Kong's Hang Seng index fell 0.59%. Australian's S&P/ASX 200's was up 0.72% in afternoon trade.

In company news, energy plays were mixed in Asia, with Santos up by 0.78%, Woodside Petroleum losing 0.7% and Inpex trading flat. Chinese mainland energy stocks were mostly lower, with China Oilfield shedding 4.08%.

Shares of the troubled Japanese electronics maker Sharp were down as much as 4.55% in early trade before retracing some of the losses to trade down 3.79%.

Investors are looking for clues as to the strength of the global economy after finance chiefs from the world’s top economies committed their governments over the weekend to doing more to boost global growth amid mounting concerns over the potency of monetary policy.

Economic data due this week include Japan's industrial production numbers on Monday, Australia's fourth quarter gross domestic product and Chinese factory activity data. Japan's January retail sales data are also due today.

In the currency market, the yen maintained its strength against the dollar at the 113 handle, with the pair trading down 0.54% at 113.38.

The Chinese yuan was marginally weaker against the dollar, with the pair up 0.13% at 6.5478. The People's Bank of China set Monday's yuan mid-point at 6.5452.

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