Hong Kong’s Hang Seng Index fell 0.43 percent. Shares in Alibaba shares in Hong Kong fell more than 2%, despite Reuters reporting on Friday that China̵[ads1]7;s central bank had accepted Alibaba’s affiliated Ant Group’s application to form a financial holding company, reviving hopes of a potential public listing for Ant.
The Nikkei 225 in Japan traded 1.11% lower while the Topix index fell 0.96%.
Australia’s S & P / ASX 200 fell 0.5 percent.
MSCI’s broadest index for Asia-Pacific equities outside Japan traded 0.44% lower.
The markets in the USA are closed on Monday due to a public holiday. The S&P 500 last week had its worst week since 2020 when investors struggled with the prospect of a potential recession ahead as major central banks such as the US Federal Reserve raised interest rates to fight inflation.
Currency and oil
The US dollar index, which tracks the dollar against a basket of its peers, was 104,661 after a recent setback from levels below 104.
The Japanese yen traded at 135 per dollar, weaker compared to levels below 132 against the dollar last week. The Australian dollar changed hands to $ 0.6932 after falling late last week from over $ 0.70.
Oil prices were lower in the morning during the Asian trading season, with international benchmark futures for Brent oil down 0.17% to $ 112.93 a barrel. U.S. crude oil futures fell 0.11% to $ 109.44 a barrel.