Asian markets trade mostly lower in early deals on Monday

Most of the Asian equity benchmarks are trading down in the early deals on Monday after three consecutive weeks of gains as a retreat in oil prices made investors cautious, but losses were tempered by hopes that China may soon cut interest rates again as pressure on the yuan eases. Stocks in China rose after authorities signaled a loosening stance toward margin trading, the practice of using borrowed money to buy shares. Among the other Asian markets, Indonesia, Singapore, South Korea, Malaysia and Taiwan are marginally lower. Bucking the trend, Hong Kong is higher. The markets in Japan are closed for Vernal Equinox Day.

Jakarta Composite declined 7.15 points or 0.15% to 4,878.55, Straits Times dropped 35.20 points or 1.21% to 2,871.60, FTSE Bursa Malaysia KLCI dipped 7.16 points or 0.42% to 1,709.18, KOSPI Index decreased 5.22 points or 0.26% to 1,986.90, and Taiwan Weighted was down by 19.30 points or 0.22% to 8,791.41.

On the flip side, Hang Seng surged 53.52 points or 0.26% to 20,725.15, and Shanghai Composite was up by 52.89 points or 1.79% to 3,008.04.