Investing.com - Asian shares were mixed with China markets shut for a holiday and regional data not providing a clear direction for markets.
In Australia the AIG manufacturing index for March eased to 57.5 from 59.3, still solidly in expansion, while Japan's Tankan large manufacturers survey showed a rise to plus-12 from plus-10. Also in Australia, first quarter and building approvals spiked 8.3%, well above the 0.5% decline seen for February and retail sales dipped 0.1%, missing the 0.3% increase expected.
In Australia, the S&P/ASX 200 fell 0.25%. Australian coal haulage group Aurizon Holdings said that damage from Cyclone Debbie in Queensland could mean some rail lines used by miners, including BHP Billiton (LON:BLT), could be closed for repairs for more than a month. Shares of Aurizon Holdings were down 0.38%, and BHP Billiton slipped 0.12%.
Japan's Nikkei 225 rose 0.36%.
Also on Monday, financial markets in Shanghai are closed for a holiday and later in the U.S. New York Fed President William Dudley, Philadelphia Fed President Patrick Harker and Richmond Fed President Jeffrey Lacker are all set to speak.
In the week ahead, investors will be looking to Wednesday’s Fed minutes for fresh indications on the timing of the next U.S. rate hike ahead of Friday’s closely watched nonfarm payrolls report and a meeting between Chinese President Xi Jinping and U.s. President Donald Trump in Florida.
Last week, U.S. stocks closed lower on Friday, as a raft of mostly negative economic data weighed on upside momentum while financials lagged.
In what was the last day of the month and quarter, the Dow ended the session in negative territory and suffered its first monthly loss since October, after the latest batch of economic data revealed a slowdown in personal spending and consumer sentiment.
The University of Michigan said its consumer sentiment index slipped to 96.9 in March from an initial estimate of 97.6, which was well below economists’ forecast of an unchanged reading. The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.1% against expectations of a 0.2% increase.
Meanwhile, better than expected Chicago PMI data failed to lift sentiment, as Financials’ mostly banks, traded in negativity territory.
The Chicago purchasing managers’ index rose to 57.7 in March from 57.4 in February. A reading above 50 indicates economic expansion, whereas a reading below 50 indicates contraction.
The Dow Jones Industrial Average closed 0.31% lower at 20,663. The S&P 500 lost 0.23% and the Nasdaq Composite closed 0.04% lower at 5911.74.