Asia close: Chinese shares hit 10-month high

Asia´s main stockmarket benchmarks were higher at the start of the week, but trading across the region as a whole ended on a mixed note, with several of the main bourses sporting losses by the closing bell.

The Nikkei-225 ended the session higher by 0.78% to 18,106.02, alongside similar gains for the Shanghai Stock Exchange´s Composite index, which tacked on 0.79% to close at 3,218.15 - a 10-month high.

Some traders noted the possible imminent start of the Hong Kong-Shenzhen stockmarkets as the trigger behind the rise in Chinese stocks.

Energy stocks were among the best performers in the region after Iran´s Oil Minister said a deal from OPEC to curb output at the end of the month was "highly probable".

Chinese insurers were also among the best performers, with stock in China Life Insurance rising 7.8% and that in New China Life up by 6%.

The Hang Seng edged up by 0.06% to 22,357.78 and Taiwan´s TAIEX gained 0.36% to 9,041.11.

However, South Korea´s Kospi retreated 0.43% to 1,966.05, while India´s Sensex gave back 1.47% to end at 25,765.14. Benchmarks in Singapore and Indonesia were also lower.

Losses in Seoul came amid news over the weekend that President Park Geun-Hye had been found by prosecutors to have had a role in an influence-peddling case. Meanwhile, losses in Mumbai were linked to worries about the government´s anti-corruption drive and capital outflows.

Japanese exports fell by 10.3% year-on-year in October to reach 5.87trn yen (consensus: -9.4%), according to the country´s Ministry of Finance, worse than the previous month´s fall of 6.9%.

In parallel, imports declined 16.5% year-on-year to 5.37trn yen, their 22nd consecutive monthly fall, leaving a trade surplus of 496.2bn yen.

Dollar/yen was little changed, rising by just 0.02% to 110.84.

Japan´s all-indudstry activity index shrank by 0.2% over the month (consensus: 0.0%), while the tertiary activity index, which tracks services, dipped by 0.1% month-on-month.

In Sydney, the All Ordinaries lost 0.15% to finish the session at 5,419.35 as iron ore prices slipped back on the heels of higher Chinese trading charges and falling prices for steel, according to traders.

One trader referenced news that the Chinese city of Shijiazhuang had stopped output of cement and steel as well as having cut threal coal power generation in order to meet air pollution limits.

Australia´s Boral Ltd. agreed to the purchase of US building products firm Headwaters Inc for $1.86bn.

Abu Dhabi led losses among Gulf markets after two of the country´s after three of the country´s lenders told investors they were not involved in merger talks.