Asian markets lower after Japan GDP; stock connect eyed

Asian markets opened lower on Monday after Japan released worse-than-expected third quarter growth data.

Japan's economy shrank in the third quarter, data showed on Monday, defying expectations for growth. Gross domestic product (GDP) contracted an annualized 1.6 percent, compared with a Reuters forecast for a 2.1 percent gain. The economy contracted 7.1 percent in the second quarter.

U.S. stocks finished flat on Friday, with the S&P 500 rising a fraction of a point to notch another record, as investors tracked the price of oil and after October retail sales rose 0.3 percent, just above expectations, along with a jump in consumer confidence for November.

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