Asian shares mixed after China housing data

<p>China’s new home prices extended their downtrend in April.</p>

Asian markets started the week on a mixed note today (May 18th) after the release of data that showed further declines in China's house prices.

China's new home prices extended their downtrend in April, falling in 48 of 70 top cities with average prices dropping for the eighth straight month on a year-over-year basis, according to calculations by The Wall Street Journal.

Meanwhile, uncertainty over Greece's future in the euro zone hampered sentiment. "Greece will be front and centre this week as the country looks to secure a deal with its creditors while avoiding harsh austerity. The government reinforced it won't back down on its election promise to end austerity but this is likely to be a lot harder than they are leading on," Stan Shamu, IG's market strategist, wrote in a note seen by CNBC.

Japan's Nikkei 225 gained 0.8 per cent to 19890.27 and South Korea's Kospi edged up 0.3 per cent to 2113.72. Hong Kong's Hang Seng index lost 0.8 per cent to 27591.25, Australia's S&P/ASX 200 tumbled 1.3 per cent to 5659.17 and the Shanghai Composite index closed 0.6 per cent down to finish at 4283.23.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.