Asian stocks ended mixed on Monday as investors awaited a slew of U.S. data and Federal Reserve Chair Jerome Powell’s keynote address at the Kansas City Fed’s two-day annual economic symposium this week for fresh clues on the economic and interest rate outlook.<\/p>\n
The dollar held its ground following last week’s surge, while oil prices tumbled nearly 2 percent in Asian trading after three days of gains.<\/p>\n
China’s Shanghai Composite Index rose 0.6 percent to 3,277.79 as the country’s central bank cut its key lending rates again in an attempt to boost an economy<\/span> battered by COVID-19 lockdowns and property debt problems. Hong Kong’s Hang Seng index dropped 0.6 percent to 19,656.98 after choppy trading.<\/p>\n Japanese shares ended lower to extend losses from the previous two sessions. The Nikkei 225 Index shed 0.5 percent to close at 28,794.50, while the broader Topix finished marginally lower at 1,992.59. Tech stocks led the losses, with Advantest and Tokyo Electron falling 1-2 percent.<\/p>\n Seoul stocks fell for a fourth straight session on concerns over the U.S. Federal Reserve’s aggressive monetary tightening and its impact on economic growth. The Kospi tumbled 1.2 percent to 2,462.50.<\/p>\n Tech and bio shares paced the declines, with SK Hynix, Samsung Electronics, Samsung Biologics and POSCO losing 1-2 percent.<\/p>\n