Most major Asian markets lower as U.S.-China tech tensions rise

Asia-Pacific markets were mixed on Monday, as investors reacted to rising tech tensions between Washington and Beijing.

Mainland Chinese stocks led losses among the region’s major markets on the day, with the Shanghai composite down 1.87% to about 3,292.59 while the Shenzhen component dropped 2.729% to around 13,284.03.

Hong Kong’s Hang Seng index closed 0.43% lower at 24,589.65.

In Japan, the Nikkei 225 closed 0.5% lower at 23,089.95 while the Topix index shed 0.42% to end its trading day at 1,609.74.

South Korea bucked the trend, with the Kospi gaining 0.67% to close at 2,384.22. Australia’s S&P/ASX 200 also closed 0.33% higher at 5,944.80.

Overall, the MSCI Asia ex-Japan index was 0.26% lower.