Japan shares fail to gain momentum from growth data

Japanese shares were in negative territory despite revised growth that was higher than expected

Positive economic growth data out of Japan failed to drive shares higher in the world's third-largest economy.

Revised figures showed that Japan's economy expanded by 1% in the first three months from the previous three, up from an initial estimate of 0.6%.

It also grew 3.9% on an annualised basis, compared with a preliminary reading of 2.4%, and was much higher than forecasts of 2.7% growth.

The benchmark Nikkei 225 index ended flat at 20,457.19 points.

Shares were also lower despite a positive US jobs report on Friday helping push down the yen against the dollar, which is good for Japanese exporters as it makes them more competitive overseas and increases profits when repatriated.

The dollar was at 125.47 yen against 124.45 yen in Tokyo on Friday. It had briefly hit a 13-year high of 125.86 yen on Friday.

China trade data

Chinese shares were up despite trade data showing that exports fell for the third month in May, while imports declined for a seventh month.

Hong Kong's Hang Seng index closed up 0.21% at 27,316.28 points, while the Shanghai Composite finished the day up 2.17% at 5,131.88 points - its highest point since early 2008 and leading the region's gains.

Mainland shares of CRRC were up 10% after a month-long trading halt, as investors piled into the Chinese train maker that is now the world's largest in terms of market value following its merger.

CSR and China CNR, which had been the country's two largest train makers, announced last week that they had completed their government-driven merger through a share swap, which saw CNR absorbed into CSR and delisted.

In South Korea, the benchmark Kospi index closed down 0.1% to 2,065.19 after falling to a near two-month low of 2,056.50 early in the session.

The government is trying to contain an outbreak of the Middle East Respiratory Syndrome (MERS) after the health ministry reported 23 new infections on Monday, bringing the total to 87.

Six people have died from the disease in South Korea, which now has the second highest number of infections in the world, after Saudi Arabia.

Markets in Australia are closed for a public holiday.