Beijing, China (BBN)-Markets in Asia were mostly up on Monday following stocks in the US which ended the week higher after recovering losses.

In Australia, the benchmark S&P/ASX 200 was up 0.30% at 5,832.00 points.

The index was in positive territory despite disappointing results from of Australia’s biggest lenders, Westpac, reports BBC.

The bank posted a cash profit of 3.78bn Australian dollars ($2.98bn; £1.96bn) for the six months to March.

Analysts said the results were poor and a “big miss”.

Shares in the bank fell by more than 4.5% on the results.

In China, Hong Kong’s Hang Seng index was up 0.37% at 28,237.25 while the Shanghai Composite was down 0.48% at 4,420.54 points.

A report released on Monday showed factory activity in China had contracted in April.

HSBC’s purchasing managers’ index (PMI) index was 48.9 for April, the lowest level in about a year, and down from March’s reading of 49.6.

A reading of below 50 indicates a contraction.

Analysts said investors would likely welcome the disappointing data as it could spur the government to introduce fresh stimulus measures.

Meanwhile, South Korea’s benchmark Kospi index was up 0.42% at 2,136.00 points.

Investors shrugged off a separate HSBC report on South Korea’s manufacturing sector which showed activity fell to a seasonally-adjusted 48.8.

HSBC’s PMI reading for April was its lowest since October last year.

The Nikkei 225 index was closed on Monday as Japanese markets are shut for the Golden Week holiday. They will reopen on Thursday.