Japan's second-quarter GDP growth was revised slightly higher, mainly driven by improving private consumption. The sudden resignation of Japan's prime minister and the setback in the US-Japan trade negotiation added to the market uncertainty.
Japan's real wages turned positive after seven months in July as they rose faster than inflation. Household spending rose a real 1.4% in July and advanced for the third consecutive month.
China indexes trimmed weekly losses to between 1% and 2% as investors remained cautious amid rising risks of regulatory interventions following a sharp rebound over the last four months.
Japan's bond yields hovered near 17-year highs, and he yen remained under pressure after the BoJ Governor Ueda reiterated the central bank's stance to hike rates as long as economic conditions support the move.
Japan's Nikkei 225 Stock Average and Topix faced headwinds amid rising global bond yields and persistent uncertainties linked to the U.S. trade policy.
China and Hong Kong markets closed down for the second consecutive day, and defense stocks were in focus as China unveiled the latest weapons in a huge Victory Day parade marking the 80th anniversary of Japan's surrender at the end of World War II.
Japan's indexes edged higher ahead of the release of wage data later in the week. Crude oil advanced on supply disruption worries, and gold traded at a new record high ahead of the possible U.S. rate cut.
The blistering pace of rise in China's stock market indexes took a breather as traders reevaluated earnings outlook amid a lack of positive catalysts in the near term.
Japan's benchmark indexes dropped on Monday, following a weakness in Friday's trading on Wall Street. The second U.S. court questioned the legal basis for U.S. tariffs, providing more headroom to negotiators in Japan, India, and China.
Japan's benchmark indexes extended weekly losses after the latest updates on industrial production and retail sales fell short of expectations. The Nikkei 225 Stock Average trimmed this year's gains to 8.7%.
The liquidity-driven market rally extended weekly gains in China indexes as investors awaited the release of earnings from banks. The Hang Seng Index struggled to stay above the flatline ahead of the release of key earnings reports.
