Japanese yen touches 160 to the dollar; Asia stocks rise as Fed meeting looms

This is CNBC's live blog covering Asia-Pacific markets.

The Japanese yen weakened to 160 against the U.S. dollar on Monday, as stocks in Asia-Pacific markets climbed.

The yen weakened further on Friday after the Bank of Japan left interest rates unchanged. Japan's stock markets are closed for a public holiday.

Traders look toward the Federal Reserve's meeting this week, following another hotter-than-expected U.S. inflation reading Friday.

March's core personal consumption expenditures, excluding food and energy, rose 2.8% from a year ago, and came in ahead of the 2.7% expected by Dow Jones. Personal spending rose 0.8%, ahead of a 0.7% estimate.

In Asia, China's official purchasing managers index for April is expected Tuesday ahead of the Labor Day holiday on Wednesday, along with Japan's industrial production and retail sales data from March.

Australia's S&P/ASX 200 was up 0.43%, rebounding from Friday's losses.

South Korea's Kospi rose 0.84%, and the small-cap Kosdaq gained 0.72%.

Hong Kong's Hang Seng index rose 0.82%, while China's CSI 300 added 0.1%.

U.S. stocks jumped Friday, with the S&P 500 and Nasdaq Composite recording their best week since November as Big Tech names rallied on strong earnings.

The S&P 500 advanced 1.02%, while the tech-heavy Nasdaq jumped 2.03%, marking its best session since February. The Dow Jones Industrial Average rose 0.4%.

— CNBC's Samantha Subin and Yun Li contributed to this report.

The Japanese yen weakened to 158.43 against the U.S. dollar, touching a fresh 34-year low.

On Friday, the Bank of Japan held interest rates steady at the end of its monetary policy meeting and said it will continue to conduct bond purchases in line with the March decision.

BOJ Governor Kazuo Ueda said later that day