Asia Downward as India Situation Watched

Stocks in Asia-Pacific slipped on Monday, with major markets in China and Japan closed for holidays.

In Hong Kong, the Hang Seng index gave up another 367.34 points, or 1.3%, to 28,357.34.

Investors in Asia-Pacific continued monitoring the COVID situation in India as the country continues to battle a deadly second wave of infections. Over the weekend, more than 400,000 daily new cases were registered for the first time.

The Japanese yen traded at 109.68 per U.S. dollar, weaker than levels below 108.5 against the greenback seen last week. The Australian dollar changed hands at $0.772, following its tumble in late April from above $0.776.

In other markets

In Singapore, the Straits Times index retreated 33.51 points, or 1%, to 3,184.76.

In Korea, the Kospi index fell 20.66 points, or 0.7%, to 3,127.20.

In Taiwan, the Taiex index lost 344.31 points, or 2%, to 12,222.35.

In New Zealand the NZX 50 gained 37.71 points, or 0.3%, to 12,768.34

In Australia, the ASX 200 inched forward 2.98 points to 7,028.80.