Investing.com - Asian shares were mixed on Monday with the focus on central banks and holidays ahead in Greater China crimping activity.
The benchmark Shanghai Composite Index was last down 0.46%, ahead of the start of a week-long holiday on Thursday and Hong Kong's market was closed for a public holiday.
The S&P/ASX 200 rose 0.84%, but the Nikkei 225 was down 1.24%.
Ahead, Bank of Japan Governor Haruhiko Kuroda is slated to give a speech to business leaders in Osaka at 1430 local time (0530 GMT)
Later on Monday, New York Federal Reserve President William Dudley and Chicago Fed President Charles Evans are both to speak, at separate events. The U.S. is also to release data on personal income and spending as well as a report on pending home sales.
Last week, U.S. stocks were mixed on Friday ending a bearish week, as investors digested hawkish comments from Janet Yellen suggesting that it is likely the Federal Reserve will raise short-term interest rates before the end of the year.
Speaking at the University of Massachusetts-Amherst on Thursday evening, the Fed chair said conditions in the economy will likely be appropriate for the U.S. central bank to raise the target range on its benchmark Federal Funds Rate at some point in 2015. Downplaying widespread concerns related to the deceleration of inflation, Yellen noted that the Fed believes inflation can move to its targeted goal of 2% once transitory factors from falling energy prices and a stronger dollar evaporate.
The Dow Jones Industrial Average still closed higher for the session, after receiving a much-needed boost from Nike Inc (NYSE:NYSE:NKE). One day after crushing analysts' expectations for its first quarter earnings, the global apparel giant surged nearly 9% on Friday to reach a fresh all-time high at 125.94.
The NASDAQ Composite index and the S&P 500 Composite index, however, both closed lower amid a weak performance among biotech stocks. The Dow gained 113.35 or 0.7% to close at 16,314.67, while the NASDAQ fell 47.98 or 1.01% to end the week at 4,686.50. The NASDAQ Biotechnology exchange-traded fund slumped nearly 5% on the day, suffering one of its worst one-day declines since April, 2014.
The S&P 500, meanwhile, lost 0.90 or 0.05% to 1,931.34, even as six of 10 sectors closed in the green. Stocks in the Health Care, Consumer Services and Basic Materials sectors lagged, while stocks in the Financials, Utilities and Consumer Goods industries led. Health Care stocks plunged nearly 3% on the session.