Asian equities started the week mixed on Monday as investors focused on a raft of data in China and Japan. Trading volumes were also light with markets in China, South Korea and Taiwan shut for the Mid-Autumn Festival.
Read MoreChina, Japan data deluge on tap this week
Markets showed little reaction to China's August trade report. Exports in the world's second-largest economy jumped 9.4 percent on year, higher than expectations for a 8 percent rise. But imports fell an annual 2.4 percent, missing estimates for a 1.7 percent increase. Still, the country's trade surplus rose to $49.8 billion, well above forecasts for $40 billion.
Gains on Wall Street late last week helped to bolster sentiment. The recorded another record finish as investors shrugged off a surprisingly disappointing jobs report. August nonfarm payrolls added 142,000 jobs while the jobless rate declined to 6.1 percent. Economists had expected payrolls growth of 225,000 last month.
Nikkei up 0.2%
Japanese shares snapped their two-day losing streak despite mixed economic data. Revised second-quarter gross domestic product showed the economy contracting an annualized 7.1 percent, worse than initial estimates of a 6.8 percent contraction. Meanwhile, the country's current account returned to a surplus in July after posting a deficit for the first time in five months in June.
SoftBank rallied over 2 percent after Alibaba filed to sell up to $24.3 billion in stock on Friday, making it the biggest U.S. initial public offering ever. The Japanese firm is a major shareholder in Alibaba.
E-commerce giant Rakuten slumped 4 percent after reaching a basic agreement to buy U.S. shopping website Ebates for $950 million.
ASX 0.4% lower
Australia's benchmark index fell to a three-week low as a number of stocks traded ex-dividend. Among them, Insurance Australia Group (IAG) lost over 5 percent and blood products maker CSL dropped 2 percent.
Iron ore miners were mixed even as the commodity traded at historical five-year lows; Fortescue Metals gained 2 percent while BC Iron lost 1.8 percent.
But gold miners rallied as bullion prices recovered from a three-month low. Newcrest Mining and Kingsgate Consolidated jumped more than 1 percent each.
Read MoreChina to be biggest economy by 2024 in dollar terms
HSI down 0.3%
Hong Kong's benchmark Hang Seng Index fell on profit-taking after posting a 2 percent weekly gain on Friday. Last Wednesday, it hit a six-year closing high.
Nifty 1% higher
Indian shares rose thanks to strong foreign buying while the strengthened to its highest level in over five weeks against the greenback.