Japanese Nikkei Index advanced 1.1% while the Hong Kong Hang Seng Index added 0.1% and Australian ASX Index edged 0.1% lower. Chinese Shangai Composite Index rose 0.6%. Markets in Taiwan, Singapore and India have traded higher, while the South Korean Kospi Index was closed for bank holidays.
On the macroeconomic front, Chinese Manufacturing PMI eased to 59.2 in February from 59.9 in January, while the HSBC PMI for February dropped to 51.7 from 54.5. A significant slowdown on manufacturing activity, which suggest that Chinese government's efforts to cool off the country's economy might be starting to catch up.
Dollar ticks up against Yen
USD/JPY retreat from 84.00 area last week extended to 81.60 area, to test uptrend support line from November lows, where the pair found demand to puck up on Asian session, returning above 82.00 to reach 82.25 high ahead of Europe.
EUR/USD bounced yesterday at 1.3710 support area and the pair rose on European session, favoured by higher inflation in the Euro Area, to cap at 1.3860 resistance area, and consolidate at 1.3800/30 during Asian session.
GBP/USD retreat from 1.6275 high last week found support on Friday at 1.6030 low, and the Sterling soared on Monday to retrace the previous three days' decline and consolidate below 1.6300 during Asian session.