Oil, Bond Yields Roil Asian Stock Markets in Holiday-Thinned Trading

Asian stock markets churned on Monday as traders weighed rising global crude prices, bond yields, and ongoing hostilities in the Persian Gulf.

Hong Kong gained and Shanghai lost ground, while trading floors in Tokyo were dark on holiday. Other regional exchanges were mixed,

with Seoul's KOSPI index declining 3.6% as chip stocks retreated.

Brent crude futures rose 0.8% to $105.61, during Asian market hours.

In Hong Kong, the Hang Seng Index opened higher, waffled but closed up 0.3% on the strength in bank shares.

The broad gauge Hang Seng rose 59.85 to 24,271.20, although losing issues outnumbered gainers 58 to 35. The Hang Seng TECH Index lost 0.7% on the day, while the Mainland Properties Index fell 0.9%.

The Hang Seng Mainland Banks Index rose 2.2%, as investors sought shares offering dividend yield, reported Caixin Global.

Leading the upside was shipping line Orient Overseas International, gaining 4.4%, while Laopu Gold declined 7.9%.

On the mainland, the Shanghai Composite fell 0.4% to 3,797.24.

In economic news, total vehicle sales in China fell 8.4% on year to 2.96 million units in September, following a 5.1% on-year decline in August, reported the China Association of Automobile Manufacturers.

On the other regional exchanges, the Taiwan TWSE was steady; the Australian ASX 200 added 0.8%; the Singapore Straits Times Index rose 0.3%, and the Thai Set gained 0.4%. In late trading in Mumbai, the Sensex was down 0.8%.

The MSCI All Country Asia Pacific Index fell 0.4% on the day.