Mixed Asian Stocks as US Data Eases Rate Hike Fears

Asian stocks were mixed on Monday as investors assessed fresh data from the US that tempered expectations for a US interest rate hike but indicated weakness in the world's top economy.

Hopes that the Federal Reserve will not tighten policy next month boosted equities last week, pushing the S&P 500 and Nasdaq to records. However, figures on Friday raised questions about the health of the economy, leading observers to warn that investors should be careful what they wish for.

Retail sales fell 0.6 percent on-month in July, the worst performance in more than a year, while consumer sentiment plunged as households battered by fallout from President Donald Trump's Iran war curbed spending and raised their expectations of inflation.