Beijing, China (BBN)-Asian shares were mixed on Monday, taking their lacklustre start from Wall Street on Friday where investors were not convinced by reassuring comments from the Federal Reserve.
US shares ended lower despite confirmation from the central bank that it was on track to raise rates this year. That sentiment was boosted by higher revised growth figures, reports BBC.
But investors remained cautious ahead of US jobs data due later this week.
The Nikkei was down 0.7 per cent to 17,758.19.
Japanese investors are also looking ahead to the Bank of Japan’s quarterly Tankan survey on Thursday to see how businesses feel about the economy.
More bad data
Mainland Chinese shares also opened lower after government data showed that industrial profits continued to decline in August.
Industrial profits were down 8.8 per cent from a year ago, compared to a fall of 2.9 per cent in July.
Investors are also awaiting both official and private manufacturing surveys for September on Thursday for insight into the depth of the slowdown in the world’s second largest economy.
The Shanghai Composite was down 0.2 per cent to 3,085.86 in early trade.
Markets in Hong Kong, Taiwan and South Korea were closed for public holidays.
In Australia, the S&P/ASX 200 index was up 1.1 per cent to 5,095.20 – leading the gains in Asia.