Asian stocks edged higher on Monday as China’s weekend interest rate cut partially offset soft U.S. data, while the dollar hit an 11-year high against a basket of currencies. 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. Australian shares posted some of the biggest gains in Asia following the China rate cut, gaining 0.6 percent (.AXJO) after touching a seven-year peak as resource shares surged.