Asian stock markets ended mixed on Monday as Chinese shares declined to the lowest level in three weeks on monetary policy tightening concerns.
Tokyo shares pared early gains and ended slightly lower ahead of slew of corporate earnings reports and U.S. Federal Reserve meeting this week. Stocks advanced in morning session as exporters were gained due to weaker yen. Benchmark Nikkei declined 0.11 percent or 10.25 points to 9,671.96.
Shipping shares advanced on news that earnings sharply rebounded at Japan's three major marine transport companies in the last quarter. Nippon Yusen advanced 1.33 percent to 304 yen and Kawasaki Kisen gained 0.72 percent to 278 yen, while Mitsui OSK Lines gained 1.99 percent to 461 yen.
Among automakers, Nissan Motor declined1.81 percent to 759 yen and Honda Motor declined 1.27 percent to 3,105 yen, while Toyota Motor declined 0.6 percent to 3,275 yen after the company said its March production in Japan plunged 62.7 percent year-on-year.
Chinese shares fell for the second day, led by declines from metal producers and property developers on monetary policy tightening concerns. Chinese Shanghai composite fell 1.51 percent or 45.45 points to 2,965.06. Poly Real Estate Group Co declined 1.96 percent and Aluminum Corp of China Ltd. plunged 3.22 percent.
South Korean shares rose to a fresh record high on Monday as automakers rallied on expectations of robust quarterly results. Seoul composite advanced 18.18 points or 0.83 percent to 2,216.00. Hyundai Motor surged 5.57 percent and Kia Motor’s gained 3.2 percent.
Many markets including Australia, Hong Kong and New Zealand were closed for public holidays.