Asian stocks were little changed as continuing strength in the yen pressured Japanese shares, offsetting China’s economic stimulus and a rebound in oil.
The MSCI Asia Pacific Index slid 0.1 percent to 119.08 as of 9:22 a.m. in Tokyo. China said Monday it would reduce the amount of cash lenders must lock away in a bid to cushion a slowdown there. Chinese manufacturing data due Tuesday and the monthly U.S. jobs report Friday are just two of a string of closely watched economic data points scheduled to be released this week. Markets in Hong Kong and China are yet to open.
Australia’s S&P/ASX 200 Index added 0.5 percent and New Zealand’s S&P/NZX 50 Index climbed 0.3 percent. South Korea is closed for a holiday.