Markets in Asia were mixed on Monday morning, as Japanese shares held steady despite data showing the country's exports fell less than expected in September on the back of a relatively stronger yen.
The benchmark Nikkei 225 traded flat at 17,183.45, while the Japanese yen strengthened from levels near 103.90 before the release to a session high of 103.78. As of 9:05 a.m. HK/SIN, the dollar/yen traded at 103.87.
Government data showed September exports fell 6.9 percent on-year, slower than a Reuters forecast for a 10.4 percent drop. Export volume was up 4.7 percent on-year, while imports fell 16.3 percent on-year, in line with market expectations, reported Reuters.
Other data were more positive, with Japan's preliminary Markit/Nikkei October manufacturing purchasing managers index (PMI) rising to 51.7 from 50.4 in September, the fastest expansion in nine months, Reuters reported. Readings over 50 indicate expansion, while levels below indicate contraction.
Across the Korean Strait, the Kospi was up 0.47 percent.
Australia's ASX 200 was down 0.67 percent in late morning trade, with all sectors trading lower. The heavily-weighted financial sector was down 0.40 percent, with the Big Four banks seeing early losses.
Shares in ANZ were down 0.27 percent, Commonwealth Bank of Australia was 0.55 percent lower, Westpac lost 0.16 percent and the National Australia Bank was down 0.47 percent.
Global markets are bracing for a slew of data this week including consumer prices data from Japan and some euro zone countries, third quarter U.S. GDP and a number of purchasing managers' index (PMI) data from developed economies.
In currencies, the dollar index .DXY was steady at 98.657, not far from 98.813, its highest since Feb. 3 struck on Friday.
The U.S. currency received a boost last week as the euro slid after the European Central Bank doused talk it was contemplating tapering its monetary easing.
The dollar was also supported by hawkish comments from Fed officials including New York Fed President William Dudley and higher expectations that Hillary Clinton will win the U.S. presidential election, which have increased bets that the Fed will raise rates in December.
The dollar was flat at 103.890 yen JPY=. The euro was nearly unchanged at $1.0883 EUR= after falling on Friday to $1.0859, its lowest since March 10.
----Gold prices were stable early Monday, after locking in their first weekly gain in four last week, with markets waiting for further clues on the timing of any interest rate hike. Spot gold traded up 0.05 percent at $1,266.86 an ounce after closing almost flat at $1,266.25 in the previous session.
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