Investing.com - Asian shares were mixed with Tokyo and Shanghai posting strong gains while Sydney lagged as the impact of weaker China trade was highlighted.
In Japan average cash earnings for September rose 0.6%, better than the gain of 0.5% seen year-on-year.
On Sunday, China said the October trade surplus came in at $61.64 billion, a tad more than $60.34 billion in September, with exports down 6.9% as imports slumped 18.8%.
October's trade surplus came in at a new monthly record due to a steeper drop in imports rather than any improvement in exports. The strong trade surplus partially explained a surprise rise in China's foreign exchange reserves
announced on Saturday.
China's foreign-exchange reserves rose by $11.387 billion in October from September, the first monthly increase in six months, suggesting the wave of capital outflows that's spooked markets may be abating.
While the PBOC may be happy with the surplus, which helps offset capital outflows and ease yuan depreciation pressure, both exports and imports fell more than expected, pointing to weak demand at home and abroad.
Imports have now dropped for 12 straight months, and have fallen by more than 10% for three consecutive months since the PBOC's yuan devaluation in early August which eroded the currency's purchasing power.
The S&P/ASX 200 fell 2.10%, while the Shanghai Composite gained 1.6% and the Nikkei 225 rose 1.86%.
Last week, U.S. stocks were mixed after the close on Friday, as gains in the Financials, Technology and Basic Materials sectors led shares higher while losses in the Utilities, Consumer Goods and Telecoms sectors led shares lower.
At the close in NYSE, the Dow Jones Industrial Average gained 0.26%, while the S&P 500 index fell 0.03%, and the NASDAQ Composite index climbed 0.38%.
n the week ahead, investors will be looking ahead to Friday’s U.S. data on retail sales, producer prices and consumer sentiment for fresh indications on the likelihood of a December rate hike.
Tuesday’s inflation figures from China will also be in focus, along with Friday’s preliminary data on economic growth in the euro area.
On Monday, the Eurogroup of euro zone finance ministers are to hold talks in Brussels.