Asian markets end mostly lower on Monday

Asian equity markets ended mostly lower on Monday after Federal Reserve Chair Janet Yellen hinted in her speech at the annual Jackson Hole conference that a rise in interest rates could be on the cards soon in the midst of an improving US economy. While Yellen's remarks raised the odds of a rate increase at the September FOMC meeting, many market participants now look ahead to this week's US jobs report for clues on the pace and timing of future rate hikes. Chinese shares ended on a flat note, as gains in industrial stocks offset weakness in the banking sector as a slew of interim corporate results showed tentative signs of bottoming-out in struggling sectors such as coal and steel. However, Japanese shares bucked the trend and hit a 1-1/2 week high, as the yen weakened against the resurgent dollar after comments from BOJ Governor Haruhiko Kuroda that the central bank will not hesitate to expand stimulus if needed at the Jackson Hole Symposium over the weekend.