Japan's Nikkei erased some of its early gains on Monday, with investors' focus in the afternoon session shifting to corporate earnings and the central bank's scheduled meeting later this week.
Shares of All Nippon Airways Corporation remained among the top gainers after earnings expectations rose, along with other tourism-related shares, amid optimism about the growth in visitor numbers.
The Nikkei index closed 0.1 percent higher at 28,593.52, after paring gains in the afternoon session. The index rose in the morning to 28,680.65, close to its highest level in eight months, which it recorded on Friday at 28,778.37.
The broader Topix index rose 0.11% to 2037.34, and also trimmed its early gains.
The Bank of Japan will hold its next policy meeting on Friday. Although estimates do not, on average, indicate the possibility of a change, analysts and investors fear surprises.
The air transport sector was the best performer among the 33 sectors representing various industries on the Tokyo Stock Exchange, up 2.93 percent.
As for the shipping sector, it was the biggest loser today, Monday, down 3.18 percent.
Chip-related stocks tracked their US counterparts, which posted losses on Friday. Chipmaking equipment giant Tokyo Electron fell 1.92% and chip testing equipment maker Advantest Corp fell 2.32%.
