HONG KONG (AP) — Asian stocks were mostly lower on Monday after Wall Street coasted to the close of another winning week.
U.S. futures were mixed and oil prices fell.
The release of weak Chinese lending data and news that the U.S. government plans to raise tariffs on a raft of Chinese exports were weighing on sentiment.
Japan’s benchmark Nikkei 225 shed 0.1% to 38,179.46. The country’s first quarter economic growth figures are due to be released on Thursday.
Hong Kong’s Hang Seng rose 0.6% to 19,073.38, helped by buying of technology shares.
But the Shanghai Composite index edged 0.1% lower, to 3,142.61, after China’s inflation data rose for a third straight month in April, while the producer price index, which measures the cost of factory goods, declined for a 19th month, the National Bureau of Statistics reported on Saturday.
New loans fell to 730 billion yuan ($100 billion) in April from 3.09 trillion yuan in March and total credit declined partly due to a lower level of government bonds being issued. Officials said the data show demand remains weak with the real estate sector still ailing.
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