Asian stocks trading mixed Monday, despite futures pointing to a higher open.

Australia's ASX 200 was trading effectively flat, weighed by a 0.81 percent decline in its materials subindex.

Major Australian resource producers were under pressure, with Rio Tinto dipped 0.13 percent, Fortescue Metals down 1.32 percent and BHP Billiton was lower by 0.1 percent.

Japan's benchmark Nikkei 225 index was up 0.72 percent; while Hong Kong's Hang Seng index opened higher by 0.17 percent.

Chinese markets were lower, with the Shanghai composite lower by 0.43 percent and the Shenzhen composite dropping 0.821 percent.

Across the Korean Strait, the Kospi was down 0.36 percent, despite a South Korean central bank survey of 1,700 manufacturers showing that business confidence was at a seven-month high.

Japan's April retail sales fell 0.8 percent year-on-year, compared to market consensus for a 1.2 percent decline, according to Reuters.

Over the weekend, a Japanese government source told news media that Prime Minister Shinzo Abe would most likely postpone the consumption tax hike for fear of upsetting the fragile economy.

In the energy markets, Brent crude was trading at USD 49.38 a barrel, after climbing as high as USD 50.51 last Friday, while US crude was trading at USD 49.41, up 8 cents from its last settlement.

Australia's Santos was lower 0.44 percent while Oil Search was up 1.17 percent; Japan's Inpex was up 0.50 percent.

On the currency front, the US dollar/ Japanese yen currency pair was trading at 110.80 at 8:15 a.m. HK/SIN time. A weaker yen is generally a positive for exporter as it increases overseas profits when converted into local currency.

The Australian dollar was trading at 0.7171 against the dollar at 8:30 a.m. HK/SIN time.

"The Aussie dollar is looking increasingly steady below the USD 0.72 level. A trip below USD 0.70 may not be far off if we see strong US economic data this week," said Angus Nicholson, market analyst at IG, in a Monday note.

The US dollar currency index, which measures the dollar against a basket of currencies, was up 0.42 percent at 95.92.

Last Friday, the dollar had rallied as much as 0.62 percent to 95.76, its highest levels since March 29, after Federal Reserve Chair Janet Yellen said a rate hike in the coming months "would be appropriate," reported Reuters.

The Dow Jones industrial average closed up 0.25 percent at 17,873.22 on Friday, while the S&P 500 ended 0.43 percent higher at 2,099.06 and the Nasdaq composite closed up 0.5 percent at 4,926.

US markets will be closed Monday for Memorial Day while the UK is also shuttered for a public holiday.

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First Published:May 30, 2016 7:45 AM IST