Asian Stock Markets Open Weak on Start of August Holiday Week
Tokyo Closed for Mountain Day Holiday
Major stock markets in Asia and the Pacific region opened lower on Monday amid reduced trading activity as Tokyo remained closed for the Mountain Day holiday. The Nikkei 225 index, which tracks the performance of the largest companies listed on the Tokyo Stock Exchange, was closed for the day.
Shanghai Index Pulls Higher
Despite the holiday-shortened session, the Shanghai Composite Index in mainland China managed to gain ground, led by gains in tech stocks. However, most other regional markets traded in negative territory, with the Hang Seng Index in Hong Kong and the S&P/ASX 200 index in Australia both posting declines.
Traders attributed the overall weakness to a lack of fresh catalysts and concerns about the ongoing US-China trade war. The markets are expected to remain subdued throughout the week as investors await further developments in the trade negotiations.
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