Asian stocks mixed after new Wall Street rises

Asian shares were mixed Monday as investors looked ahead to US-Chinese trade talks and the Federal Reserve's update on its US interest rate outlook.

Benchmarks in Hong Kong and Seoul advanced, while Shanghai and Sydney declined. Japanese markets were closed for a holiday.

On Wall Street, the benchmark S&P 500 index hit a new high Friday while the Dow Jones Industrial Average also eked out a gain but ended the week down, reports AP.

Hong Kong's Hang Seng index rose 0.5 per cent to 29,743.46 and Seoul's Kospi advanced 0.7 per cent to 2,195.52. New Zealand and Singapore also gained.

The Shanghai Composite Index lost 0.8 per cent to 3,061.54 and Sydney's S&P-ASX declined 0.6 per cent to 6,349.40. Taiwan and Jakarta retreated.

In energy markets, benchmark US crude fell 35 cents to $62.95 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $1.91 on Friday to close at $63.30.

Oil prices increased during the first quarter after OPEC and Russia to limit production.

More recently, prices have risen after Washington announced it will end waivers from sanctions for countries that import oil from Iran, including China, India, Japan and South Korea.

Brent crude, used to price international oils, lost 29 cents to $71.34 per barrel in London. The contract fell $2 the previous session to $71.63.

In currency trading, the dollar gained to 111.95 yen from Friday's 111.58 yen. The euro advanced to $1.1158 from $1.1149.