Asian stocks turned in a mixed performance on Monday as investors parsed Chinese trade data, navigated deteriorating China-Japan relations and looked ahead to the Federal Reserve's interest-rate decision due on Wednesday.

The Fed is likely to cut interest rates by 25 basis points on Wednesday but the path for 2026 looks more uncertain.

The dollar softened in Asian trade on rate cut expectations and gold traded firm above $4,200 per ounce while oil hovered at two-week highs.

China's Shanghai Composite index surged 0.54 percent to 3,924.08 after the release of trade data.

According to the customs office, China's exports grew 5.9 percent on a yearly basis in November, reversing a 1.1 percent fall in October. Analysts expected shipments to increase 3.8 percent.

Imports posted an annual growth of 1.9 percent after rising 1 percent in the previous month. This was weaker than the expected growth of 2.8 percent, resulting in a trade surplus of around $112 billion in the month.

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