Asia markets closed mixed on Monday, with major indexes in Australia, Japan and South Korea extending gains after the Bank of Japan's (BOJ) surprise move on Friday to adopt negative rates sent stocks higher from Tokyo to New York.
In Japan, the Nikkei 225 closed up 346.93 points, or 1.98 percent, at 17,865.23 while the Topix gained 30.60 points, or 2.14 percent, to 1,462.67. Across the Korean Strait, the Kospi finished 12.76 points, or 0.67 percent, higher at 1,924.82.
Down Under, the ASX 200 retraced some gains to close up 38.07 points, or 0.76 percent, at 5,043.60; earlier, the index was up as much as 1.17 percent. The energy sector, which rose as much as 2 percent in early trade, pared gains to close up 0.49 percent, while the financials sector finished up 0.39 percent.
Evan Lucas, market strategist at spreadbetter IG, wrote in a morning note that the BOJ's move was "a net positive for risk, net positive for international trade and increases in fund flows in Asia. All are seen as a macro positive."
Markets in Greater China were in negative territory with Hong Kong's Hang Seng index closing down 87.61 points, or 0.45 percent, at 19,595.50. On the mainland, Shanghai composite lost 48.34 points, or 1.77 percent, to close down at 2,689.25. The index is down some 24 percent since the start of the year. The Shenzhen composite also shed 17.52 points, or 1.03 percent, to close down at 1,671.90.
Some of the biggest losers on the Shanghai index were China Shipbuilding, down 5.17 percent, Baotou Steel, down 4.73 percent, and China Railway Group, lower by 3.77 percent.