Shares advanced in Asia on Monday as plans for stimulus in Japan overshadowed news that its economy contracted in the last quarter. Investors are awaiting the outcome of a virtual meeting between President Joe Biden and Chinese President Xi Jinping. Benchmarks rose in Tokyo, Sydney, Hong Kong, and Seoul but fell in Shanghai. Japan reported that its economy contracted in the July-September quarter amid tighter pandemic restrictions that hit consumer spending. In annual terms, the economy shrank at a 0.3 percent rate. It contracted 0.8 percent from the previous quarter. Prime Minister Fumio Kishida is due to present a major stimulus package this week, with spending of up to 40 trillion yen ($350 billion). A recent sharp decline in new coronavirus cases has enabled the country to relax restrictions on business and other activities, and that coupled with the government spending is expected to fuel a solid rebound for the …