Shares were mostly higher Monday in Asia after US stocks edged back from their all-time high following a weaker than expected report on the US economy.
US futures were little changed and oil prices were mixed.
Asian markets open mostly higher
Tokyo's Nikkei 225 index gained 0.3 per cent to 68,929.33 after the Japanese government reported the economy grew slightly faster than forecast in the April-June quarter, expanding at a 1.1 per cent annual pace even as private spending and investment stayed flat and export growth slowed. In quarterly terms, the economy grew 0.3 per cent in the second quarter of the year.
In Hong Kong, the Hang Seng picked up 1.6 per cent to 25,521.99, while the Shanghai Composite index rose 0.8 per cent to 3,960.19.
Markets in South Korea were closed for a holiday.
In Australia, the S&P/ASX 200 slipped 0.4 per cent to 9,076.90.
Taiwan's Taiex gained 0.5 per cent, while the Sensex in India fell 0.5 per cent.
Wall Street slips after retail data
On Friday, The S&P 500 fell 0.2 per cent following a report that showed shoppers spent less at US retailers last month. Such data could help the Federal Reserve keep interest rates low, which is positive for investors. But it also suggests growth may be slowing at a time when inflation is still high.
The Fed has no good tool to fix both a stagnating economy and high inflation at the same time, which is why what's called “stagflation” is seen as a worst-case scenario.
The Dow Jones Industrial Average dipped 0.2 per cent, and the Nasdaq composite shed 0.3 per cent.
Retail earnings, Fed minutes in focus
Wall Street will get financial updates from some of the nation's biggest retailers this week.
Home Depot reports its latest results on Tuesday, followed by Target and Lowes on Wednesday and then Walmart on Thursday. The results will help give investors a more detailed picture of how businesses and consumers are handling stubbornly high inflation.
Wall Street and economists will get more details about the Federal Reserve's interest rate policy when the central bank releases minutes from the July meeting on Wednesday.
Oil prices mixed amid supply concerns
In other dealings early Monday, Brent crude, the international standard, edged 0.1 per cent higher to USD 88.62 per barrel, while US benchmark crude slipped 0.3 per cent to USD 82.19 per barrel.
With prospects for a deal toward ending the war with Iran unclear, the stability of oil supplies remains uncertain with the Strait of Hormuz nearly closed, blocking a vital route for oil and gas tankers from the Middle East.
The US dollar fell to 159.09 Japanese yen from 159.32 yen. The euro rose to USD 1.1587 from USD 1.1588.