Asian stocks moved mostly higher on Monday with Tokyo spearheading gains as investors weighed up weak Chinese industrial output and retail sales data against encouraging US job figures.

The benchmark Nikkei 225 index closed up 65 points at 12,349 while the Hang Seng retreated 1 point in lacklustre trading to settle at 23,090 in Hong Kong.

Data out Friday showed the US economy created more jobs than expected while the unemployment rate fell to the lowest level in four years. However Chinese data proved less cheery with fresh figures showing consumer inflation rose sharply in February while industrial output and retail sales weakened.

Stocks in Japan were boosted by the weaker yen and hopes of a stronger US economy with investors picking up key exporters such as Honda which rose 2.6% while Nissan added 3.2%.

Cosmetics giant Shiseido surged 6.6% on news that its current Chairman, who has presided over a sharp drop in profits, will be replaced.

Japanese financials were also sought as the yen weakened with shares of Mizuho Financial gaining nearly 5% and Mitsubishi UFJ Financial ahead 6.4%.

In Hong Kong, Li & Fung rose 1.5% following the upbeat US jobs data however concern about the latest batch of Chinese data sent financials lower.

Shares of Agricultural Bank of China drifted 1.1% lower, China Merchants Bank lost 1.4% and Bank of Communications dropped almost 1% in Hong Kong.


CJ

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