Asian stocks dipped on Monday amid a lack of immediate directional cues in light year-end trade, although Japanese shares managed to rise following a rebound in crude oil prices from multiple-year lows.Investors across asset markets were without some of the usual leads as markets in Europe and North America and many in Asia were closed on Friday for Christmas.
MSCI's broadest index of Asia-Pacific shares outside Japan gave up earlier modest gains and were last down 0.2 per cent. The index was on track for an 11 percent loss this year.
Shanghai shares scraped out a 0.1 per cent gain on Monday, while Hong Kong's Hang Seng dropped 0.4 per cent. South Korea's KOSPI fell 1 per cent.
Stocks affiliated with Samsung Group fell after the South Korean conglomerate said on Sunday its battery-making arm Samsung SDI will sell shares in sister firm Samsung C&T Corp to comply with regulatory requirements.
Japan's Nikkei rose 0.2 per cent, with soft domestic production and retail data offset by a rebound in crude oil prices. "Disappointing production and retail figures have crushed the chances of any sort of photo-finish for the Nikkei this year," said Martin King, co-managing director at Tyton Capital Advisors. "But oil holding in the high 30s will provide some welcome respite for energy companies at year-end and see the index close out 2015 in 19,000 point territory." The Nikkei, lifted in part by Japanese Prime Minister Shinzo Abe's reflationary policies, was headed for its fourth straight year of gains.
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