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Asian stock markets mostly posted muted gains Monday as investors searched for fresh cues after a flat session on Wall Street and a pledge by world leaders to reduce budget deficits.
Japan's Nikkei 225 stock average fell 0.3 percent to 9,705.08 as a strong yen weakened exporters. The market also awaited key economic data this week on industrial production, unemployment, and the Bank of Japan's "tankan" survey of business sentiment.
Australia's S&P/ASX 200 lost 0.5 percent to 4,389.40.
Meanwhile, benchmarks in South Korea, Taiwan and Singapore posted mild gains. Hong Kong's Hang Seng index climbed 0.6 percent to 20,809.71 and Shanghai Composite index added 0.3 percent to 2,559.59.
In a final statement from the top 20 industrial and developing nations at their weekend summit in Toronto, leaders endorsed a pledge by rich nations to slash budget deficits in half in three years. The deficit-cutting goal, however, was accompanied by concerns that cutting stimulus spending too quickly could stall the global recovery.
Before the weekend, U.S. bank stocks shot higher after an agreement on a financial regulation bill reassured investors that new rules won't devastate the profits of finance companies.
In currencies, the dollar was trading at 89.38 yen from 89.33 late Friday. The euro rose to $1.2384 from $1.2371. Benchmark crude for August delivery was up 35 cents at $79.21 a barrel in electronic trading on the New York Mercantile Exchange.
