Asian stocks were mixed Monday as commodity prices fell and Japanese homebuilder

Morimoto

filed for bankruptcy protection.

Morimoto, with $1.7 billion of debt, filed for bankruptcy nine months after its initial public offering, according to reports. The bankruptcy was Japan's second- biggest this year,

Bloomberg

reports. Shares of

Honda

(HMC) - Get Report

declined after an executive said the carmaker will have a tough time meeting its lowered annual profit forecasts because of weaker sales.

Japan's Nikkei 225 stock average fell 1.5% to 8382.73. The Hang Seng index in Hong Kong rose 2.1%, while the S&P/ASX 200 index in Australia dropped 1.3%

Oil prices fell to near $53 a barrel Monday in Asia after OPEC declined to cut production at an informal meeting in Cairo on Saturday.

Light, sweet crude for January delivery fell $1.07 to $53.36 a barrel in electronic trading on the

New York Mercantile Exchange

by midday in Singapore. The contract settled down a penny at $54.43 on Friday.

Premarket futures in the U.S. were indicating a lower opening for stocks on Wall Street Monday.

On Friday, blue-chip stocks on Wall Street ended the choppy, abbreviated trading session with gains. The

Dow Jones Industrial Average

gained 102.43 points, or 1.2%, to 8829.04, and the

S&P 500

added 8.56 points, or 1%, to 896.24. The

Nasdaq

edged up 3.47 points, or 0.2%, to 1,535.57.