Asia Markets

Asia stocks cheer Japan, China data; Nikkei at 3-month high


Asian stocks kicked off the week with gains following positive data releases from the region's two biggest economies and a strong U.S. lead.

The Dow Jones Industrial Average and the rose to new record highs on Friday after the May non-farm payrolls report showed the creation of 217,000 jobs, in line with the recent trend, while the jobless rate was unchanged at 6.3 percent.

Sentiment in Asia got a further boost from upbeat Chinese data on Sunday. The world's second largest economy posted a big jump in its May trade surplus, with exports gaining 7 percent on year.

Read MoreCentral banks, data to dominate week in Asia

Nikkei 0.3% higher

Strong economic data saw Japan's benchmark Nikkei index end at a fresh three-month high, putting its gains over the past six trading sessions above 3 percent. Revised first-quarter gross domestic product came in at an annualized rate of 6.7 percent, surpassing initial estimates of 5.9 percent.

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Manufactures led the gains, with Alps Electric and Panasonic nearly 3 percent higher each and Isuzu Motors ending up over 2 percent.

Car manufacturer Daihatsu rose nearly 1 percent after saying it is close to an agreement to supply gearboxes to China's FAW Automobile.

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China shares higher

Shanghai stocks ended just above the flatline on caution ahead of Tuesday's inflation figures. Hong Kong's benchmark index meanwhile jumped 0.6 percent.

Financials rose in Shanghai after the country's banking watchdog signaled on Friday that the reserve requirement ratios for banks would be reduced, but gave no exact time frame. ICBC and China Construction Bank rose 1 percent each.

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Citic Securities slid 1 percent on local media reports that one of its analysts revealed insider information in a chat group.

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Kospi 0.3% lower

South Korean shares erased gains in late morning trade, with the benchmark Kospi falling below 2,000 points following Friday's public holiday.

Samsung affiliates led the losses with Samsung Electronics down more than 3 percent.

Read MoreNo respite in sight for South Korean exporters

The meanwhile rose to a new six-year high against the greenback.

Sensex up 0.7%

Indian stocks hit new record highs for the second straight session on hopes that Prime Minister Modi will unveil new economic reforms.

Australian financial markets were closed for a public holiday.