Asian stocks were mixed to lower Monday

Asian stocks were mixed to lower Monday, with Japan's Nikkei 225 Index losing ground after weak quarterly U.S. GDP data weighed on exporters such as Toyota Motor and Honda Motor while NTT Docomo Inc. fell back after posting disappointing half-year profit figures.

U.S. stock indexes ended weaker Friday after the government reported the economy grew at a slower-than-expected annual rate of 1.6% in the third quarter, below economists' expectations of 2%.

Japan's Nikkei 225 Index fell 1.6% in early-afternoon trading to 16,407.18.
Data released ahead of trading showed Japanese industrial production fell 0.7% while inventories rose slightly in September from a month earlier, according to the Nikkei daily, citing figures from the Ministry of Economy, Trade and Industry.

Elsewhere around Asia, Australia's S&P/ASX 200 was up 0.6% and South Korea's Kospi was down 0.9%. Taiwan's Weighted Price Index was down 1%. Markets in Hong Kong were closed for a public holiday.
"Although the yen looks inexpensive based on the current account surplus to GDP and interest rates in Japan are on the rise, investors have continued to borrow in yen and invest in higher nominal interest rates overseas," Sean Darby, regional Asia economist with Nomura, wrote in a note to clients. "The heavy borrowing in yen has driven risk appetite to insatiable levels, while pushing the vulnerability of equity markets towards a sharp correction as positions are closed at year-end."