Asian shares slipped on Monday, while the dollar lifted off last week's lows on expectations a signal might emerge from a Federal Reserve gathering this week in Jackson Hole, Wyoming, that the U.S. central bank is gearing up to hike interest rates.
"The market could move either way, but most people want some kind of signal at this point," said Masashi Oda, general manager of the strategic investment department at Sumitomo Mitsui Trust Asset Management.
Japan's Nikkei edged up on Monday, but gains were limited as investors were cautiously focused on this week's meeting of global central bankers in Jackson Hole, Wyoming, where the U.S. Federal Reserve may provide insight on the rate outlook.
The Nikkei share average rose 0.3 percent to 16,598.19.
China stocks closed lower on Monday as some investors took profits on infrastructure and transportation shares, leaving the blue-chip CSI 300 index with its worst loss in three weeks.
The Shanghai Composite Index closed down 0.7 percent at 3,084.81.
Hong Kong's benchmark stock index reversed earlier losses and closed slightly higher on Monday, but gains were capped by concerns about the weaker yuan and uncertainty over when the U.S. central bank will raise interest rates again.
The Hang Seng index edged up 0.3 percent to 22,997.91 points, while the China Enterprises Index was little changed at 9,602.65.
Reference: Reuters
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