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Hong Kong - Asian shares closed mixed to higher on Monday after a better-than-expected jump in US jobs creation, while weak Chinese trade figures fanned talk Beijing will introduce further economy-boosting measures.
The dollar dipped slightly against the yen, following its surge Friday after the employment figures increased expectations the Federal Reserve will raise interest rates in the near future.
Tokyo ended marginally higher, adding 15.19 points to 17 935.64 as a weaker yen offset news that Japan's economy contracted more than initially thought in July-September.
Sydney added 0.70% to 5 372.7, while Seoul lost 0.39% to close at 1 978.95.
Shanghai jumped 2.81% to 3 020.26 - the first time it has finished above 3 000 since April 2011. Hong Kong closed 0.19 percent higher, adding 45.03 points to 24 047.67.
The US Labor Department said Friday the world's biggest economy added 321 000 jobs in November, 90 000 more than expected and the best performance in almost three years.
The news is yet another indication that the United States is well on the recovery track and will put more pressure on the Fed to increase interest rates before its mid-2015 timetable.
Wall Street rallied in reaction Friday, with the Dow climbing 0.33% and the S&P 500 adding 0.16% - both settling at record highs - while the Nasdaq gained 0.24%.
"The scale of the improvement in the employment figures was a positive surprise to just about everyone," said Morgan Stanley MUFG Securities senior equity strategist Norihiro Fujito.
"Fund managers are now guessing how soon the US Fed will start ratcheting up interest rates, which is helping to fuel the dollar's continued ascent," he told Dow Jones Newswires.
The dollar pushed higher against the yen in New York, ending the week at ¥121.44, up from ¥120.16 earlier on Friday in Japan.
On Monday the greenback bought ¥121.20.
Shanghai surges
The dollar strengthened against the euro, which was also being sold on expectations the European Central Bank (ECB) will embark on fresh easing measures early next year as the economy slumbers.
READ: Dollar, oil spread at 5-year high
On Monday the euro bought $1.2270, compared with $1.2283 in New York but well off the $1.2380 earlier on Friday in Japan. The single currency was at ¥149.18 against ¥149.16 in US trade.
The weaker yen provided support to exporters, offsetting data showing the Japanese economy shrank 0.5% quarter-on-quarter in July to September, worse than the 0.4% first estimated and confirming a recession.
READ: Japan's economy shrinks more than expected
The result highlights the problems Prime Minister Shinzo Abe has in kickstarting the economy just under two weeks before a general election.
Equities in Shanghai continued to rocket after figures showing export rose 4.7% year-on-year in November, while imports dropped 6.7%.
Forecasts had been for exports to increase 8.0% and imports to rise 3.9%.
The figures are the latest in a series showing weakness in the Asian economic powerhouse.
But dealers expect authorities to announce new measures to reignite growth after last month's interest rate cut.
"The weak exports data strengthened market expectations for policy easing and investors continued to place their money in heavyweight blue-chips like banks, brokerages and property stocks," Central China Securities analyst Zhang Gang told AFP.
Oil prices extended losses in Asia after falling to five-year lows on Friday following Organisation of the Petroleum Exporting Countries (Opec)'s decision last month to maintain output levels despite a supply glut.
US benchmark West Texas Intermediate for January delivery was down 77 cents to $65.07, around its lowest level since July 2009 on Friday.
Brent crude for January fell $1.01 to $68.06, a mark not seen since October 2009.
Gold was at $1 195.20 an ounce compared with $1 203.58 late on Friday.
In other markets:
- Taipei fell 0.21% to 9 187.29.
Taiwan Semiconductor Manufacturing closed 0.36% higher at Tw$138.0, while leading chip design house MediaTek sank 4.80% to Tw$436.0.
- Wellington rose 0.13% to 5 529.32.
Telecoms giant Spark was up 0.86% at NZ$2.935 and market heavyweight Fletcher Building was steady on NZ$8.50.
- Manila was closed owing to Typhoon Hagupit.
- Bangkok fell 1.39% to close at 1 575.55.
Coal producer Banpu lost 3.70% to 26.00 baht while Bangkok Bank slipped 0.75% to 198.00 baht.
- Jakarta ended down 0.85% at 5 144.01.
Cement manufacturer Semen Indonesia rose 0.45% to 16 625 rupiah, while state-controlled miner Aneka Tambang slipped 0.52% to 960 rupiah.
- Kuala Lumpur lost 8.53 points to close at 1 740.84.
Maybank dropped 0.22% to 8.87 ringgit, while Tenaga Nasional rose 1.91% to 13.86. British American Tobacco fell 2.13% to 66.08.
- Singapore closed down 0.80% to 3 297.84.
Oversea-Chinese Banking Corporation fell 1.26% to Sg$10.20 while oil rig maker Keppel was down 0.85% to Sg$8.20.
- Mumbai declined 1.19% to end at 28 119.40 points.
IT major Infosys fell 4.88 % to 1 968.60 rupees, while Coal India rose 2.20% to 364.30 rupees.
