Investing.com - Asian shares were mixed on Monday with China bucking the trend as investors saw remarks from key officials at the weekend as mildly upbeat.
The S&P/ASX 200 was down 0.42%, the Shanghai Composite rose 1.79%, while the Nikkei 225 remained closed for a public holiday.
At the weekend, China policymakers talked up the economy with notes of caution as well on foreign borrowing by domestic firms.
China will maintain economic growth above 6.5% in each of the next five years, Xu Shaoshi, chairman of the National Development and Reform Commission, said at a forum Sunday, one of several policy statements made by leadership at the weekend on the economic outlook.
"China's economic growth will continue to develop in a stable and healthy manner," Xu said at the China Development Forum.
"Over the next five years, our economic growth will keep above 6.5% each year. We will strengthen coordination at the forefront of fiscal policy, monetary policy, industrial policy, investment policy and prices policy."
As well, People's Bank of China Governor Zhou Xiaochuan said China needs to avoid the danger of building up too much short-term debt in foreign currencies, speaking on the sidelines of the China Development Forum.
"In the future we have to avert excessive external borrowing and the currency mismatch that could result. With an eye on the global capital flow situation, we encourage mid- to long-term investment. But we do not encourage short-term speculation."
The yuan fell against the dollar Monday after the People's Bank of China set the fixing weaker at 6.4824 compared with 6.4628 - the biggest daily decrease since 0.51% Jan. 7.
Last week, U.S. stocks closed broadly higher on Friday completing their fifth straight positive week, as the major indices continued to rebound from a historic downturn at the start of the year.
The Dow Jones Industrial Average gained 120.81 or 0.69% to 17,602.30, surging to 2016-yearly highs for the second consecutive session. With the gains, the Dow closed higher for the sixth straight session. The NASDAQ Composite index added 20.66 or 0.43% to 4,795.65, amid gains in pharmaceutical and media stocks, while the S&P 500 Composite index ticked up 0.99 or 0.44% to 2,049.58.