SINGAPORE — Asian share markets were higher Monday with companies in the Kumho Asiana group rising in Seoul but Daiwa Securities falling in Tokyo.

Japan’s Nikkei 225 was up 0.4% with Australia’s S&P/ASX 200 up 0.2% and South Korea’s Kospi Composite up 0.7%. New Zealand’s NZX-50 was 0.3% higher. U.S. stock futures were down around 0.3% in screen trade.

“There is simply not enough positive news flow to fuel sentiment and investors are struggling to see much upside, particularly with the prospect of the usually quiet summer period around the corner,” said David Jones, Chief Market Strategist at IG Index.

“It seems unlikely we are going to experience the sort of stomach churning sell-offs we saw earlier this year, but it would not be surprising for stock markets to continue gradually unwinding at least some of the gains of the past three months.”

Still, some buying was expected before the financial year-end in several countries, including Australia, with funds supporting the market.

Markets in Japan weren’t reacting to economic data just released, with May industrial output rising 5.9% over April, but less than the 6.9% forecast in a survey of economists done by Dow Jones and the Nikkei. May retail sales fell 2.8% from a year earlier, highlighting the extent to which consumers were curbing expenses as bleak employment and income conditions persisted.

Daiwa Securities slumped 15% after news Friday it would raise up to ¥240 billion through a public offering plan, given the associated share dilution concerns.

Paper shares outperformed, though, with falling crude oil prices in recent days easing some of the unease about material costs. Nippon Paper Group was up 2.0%.

Korean technology and auto stocks continued to gain, with Samsung Electronics up 0.8% and Hyundai Motor up 1.7%.

Shares of Kumho Asiana Group units gained on news the conglomerate would sell Daewoo Engineering & Construction Co. to limit the liquidity concerns of its investors. Kumho Industrial gained 5.3%, Kumho Tire 7.0%, Asiana Airlines 3.5% and Daewoo Engineering 12.0%.

“The group’s decision to sell Daewoo Engineering is clearly buoying the construction unit and other units as well, on eased liquidity concerns,” said Yoon Jin-il at Daewoo Securities.

Wesfarmers shares gained 2.8% in Sydney on news its Coles unit was selling 45 smaller supermarkets and eight Liquorland stores to FoodWorks.

New Zealand shares were being crimped by a stronger New Zealand dollar, after trade data beat expectations. “Our dollar is looking stronger rather than weaker,” said ASB Securities broker Stephen Wright.

Fisher & Paykel Healthcare slipped 0.3%.

Traders were moving to sell the euro in fairly quiet foreign exchange trade, with the single currency at $1.4031, from $1.4070 late in New York on Friday, and at ¥133.72, from ¥133.98.

Any surprises in “the truckload of economic data scheduled this week” might yet break the currencies out of their recent ranges, said Bank of NZ strategist Danica Hampton. Data on the slate for the week include the Bank of Japan’s tankan survey of business sentiment, and monthly U.S. non-farm payrolls.

RBC Capital Market strategists said “soul searching continues as the market tries to get a better handle on the pace of the expected global recovery. The verdict is still out on which alphabet letter would best describe the recovery: L, U, V, or W.”

They added “V is starting to fall by the wayside as activity data fail the support a strong global rebound theory. L seems less likely given the recovery in emerging markets, which leaves U and W. As the market moves away from V-shaped hopes in favor of either of the latter two, the U.S. dollar should find support.”

Lead September Japanese government bond futures were up 0.09 at 137.75 points.

August Nymex crude oil futures were 14 cents lower on Globex at $69.02 a barrel in quiet trade.

Write to Rosalind Mathieson at rosalind.mathieson@dowjones.com