Asian equities closed mostly in the red on Monday as investors remained cautious following a mixed performance from Wall Street last Friday.
The Chinese stock market, which saw its worst weekly performance last week since August, pared back some of the mid-morning losses but remained firmly in negative territory in the afternoon as ongoing investigations into brokerages on short-selling and speculation charges hurt sentiment.
The Shanghai Composite stayed in the red Monday morning, down 66 points, or 1.93 percent, at 3,370 as investors continue to remain concerned over the ongoing investigations of Chinese brokerages by regulators. Last week, the China Securities and Regulatory Commission formally launched investigations into brokerages to weed out short selling and speculation.
Japan’s Nikkei 225 fell further in mid-morning trading, down 139 points, or 0.7 percent, at 19,744 despite official data showing an uptick in industrial production and retail sales for October.