Hong Kong’s Hang Seng index fell around 3% after news that China has imposed fines on heavyweights Tencent and Alibaba.
In Japan, the Nikkei 225 gained 295.11 points, or 1.1%, to 26,812.30.
Japan’s ruling coalition is set to increase its majority in the upper house of the country’s parliament, local broadcaster NHK projected. Voters headed to the polls two days after former Prime Minister Shinzo Abe was assassinated while campaigning on behalf of the Liberal Democratic Party in the city of Nara.
The Japanese yen traded at 136.80 per U.S. dollar, weaker than levels seen late last week. The yen strengthened on of Abe’s murder.
In Hong Kong, the Hang Seng index fell 601.58 points, or 2.8%, to 21,124.20.
China imposed fines on several companies, including tech giants Alibaba and Tencent, for not complying with anti-monopoly rules on disclosure of transactions, according to Reuters. Hong-Kong listed shares of Alibaba dipped 5.8% and Tencent plunged 2.9%.
Casino stocks in Hong Kong plunged following news that nearly all commercial and industrial businesses in Macao will shut for a week in a bid to stop the spread of COVID-19.
Shares of Wynn Macau in Hong Kong dropped 6.7%, Sands China fell 8.15% and Melco International Development slipped 7.1% at the close.
The Australian dollar changed hands at $0.6808.
CHINA
In Shanghai, the CSI 300 slid 74.16 points, or 1.7%, to 4,354.82.
COVID concerns are growing in China as Shanghai reportedly discovered a new omicron subvariant.
Chinese producer inflation rose 6.1% in June compared with the same period a year ago, official data released on Saturday showed. That was slightly above the expected rate of 6%, according to a Reuters poll, but slower than May’s print of 6.4%.
Consumer inflation increased 2.5% from a year earlier, also slightly higher than the 2.4% predicted in a Reuters poll.
In other markets
Markets in Singapore were closed for holiday.
In Taiwan, the Taiex collapsed 124 points, or 0.9%, to 14,340.53.
In Korea, the Kospi dropped 10.34 points, or 0.4%, to 2,340.27.
In Australia, the ASX 200 flopped 75.85 points, or 1.1%, to 6,602.16.
In New Zealand, the NZX lost 63.1 points, or 0.6%, to 11,106.14.
