Asia report: Shares lower as tech sell-off, Alibaba placing hits sentiment

(Sharecast News) - Asian markets were mostly lower on Monday as yen strength and firmer global bond yields kept risk appetite subdued across the region, while investors also remained cautious ahead of new US sanctions on Iran.

Japan's Nikkei 225 slipped 0.69% to 65,560, with exporters under pressure from the stronger yen. In China, the Shanghai Composite eased 0.59% to 3,882, while Hong Kong's Hang Seng dropped 1.89% to 25,517 amid continued weakness in property and tech names.

regional sentiment was also hit by Alibaba's discounted share placing at HK$112.70 apiece, compared with the stock's Friday closing price of HK$123.

South Korea's Kospi tumbled 3.12% to 6,697, extending declines in heavyweight chipmakers. Samsung Electronics slumped after the electronics said it spent $80bn to buy back its own shares.

Singapore's Straits Times Index edged down 0.15% to 5,681.

Australia outperformed the region, with the ASX 200 rising 0.5% to 9,107, supported by miners and financials. Taiwan's Taiex dipped around 0.5%.

Reporting by Frank Prenesti for Sharecast.com