Asian stocks got off to a steady start on Monday as soft U.S. data was partially offset by a weekend interest rate cut by China, while the dollar hit a five-week high against the euro.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent and Tokyo's Nikkei rose 0.3 percent. South Korean and Australian shares also gained.

China on Saturday stepped up its easing tempo and cut its lending and deposit rates as the world's second largest economy tries to ward off deflation.

But the impact from the weekend easing only had a limited effect on the region's markets.

"News of China' rate cut should help buyer mood this morning, compensating for a weak lead from the US market," said Ric Spooner, chief market analyst at CMC Markets in Sydney.

"However, while news of lower borrowing costs will help support equity valuations and be seen as a positive for commodity demand, market response may be limited. In some senses this rate cut is a technical response to the fact that lower inflation is making real borrowing costs more expensive in China," Spooner said.

Equity markets were also cautious after revised data on Friday showed U.S. gross domestic product expanded at a slower pace in the fourth quarter than initially thought, and the University of Michigan's final February reading on U.S. consumer sentiment slipped from an 11-year high but topped expectations.

The impact of China's easing on the Australian dollar, often used as a proxy for Chinese growth prospects, was also limited. The Aussie climbed to $0.7850 early in the session before losing steam to last trade at $0.7791, down 0.2 percent.

The U.S. dollar was up 0.1 percent at 119.81 yen after gaining about 0.6 percent last week when upbeat U.S. data helped revive prospects of an early interest rate increase by the Federal Reserve. A rise above 119.84 would take the dollar to a three-week high.

The euro hovered near a five-week low of $1.1160.

In addition to the all-important U.S. non-farm payrolls data on Friday, the key focus this week will be the European Central Bank (ECB) meeting on Thursday. Investors are keenly waiting for further details on its 1 trillion euro ($1.1 trillion) government bond-buying program, which begins this month.

U.S. crude fell 41 cents to $49.35 a barrel after Friday's $1.59 surge petered out. U.S. crudeposted the first monthly gain since June thanks to an improving demand outlook and supply outages.