On Monday, Asia-Pacific markets exhibited a mixed performance as investors evaluated the escalating tensions between Japan and China, following Beijing’s advisory to its citizens regarding travel and study intentions in Japan. Japan’s benchmark declined by 0.1% to finish at 50,323.91, while the Topix experienced a loss of 0.37% at 3,347.53, driven by a downturn in tourism-exposed stocks. Beauty and cosmetics firm Shiseido, which relies heavily on Chinese spending, experienced a decline of 9.08%. Isetan Mitsukoshi Holdings, the parent company of the Mitsukoshi and Isetan department-store chains, experienced a decline exceeding 11%. Oriental Land, the operator of Tokyo Disney Resort, experienced a decline of 5.68%. ANA Holdings, the airline operator, experienced a decline of 3.35% in its share price.

Japan’s economy contracted by a smaller-than-expected 0.4% in the quarter that ended in September, relative to the preceding quarter. South Korea’s Kospi experienced an increase of 1.94%, reaching 4,089.25, whereas the small-cap Kosdaq saw a rise of 0.53%, settling at 902.67. Hong Kong’s Hang Seng index experienced a decline of 0.71%, whereas the mainland’s CSI 300 saw a decrease of 0.65%, settling at 4,598.05. Australia’s benchmark index concluded the trading session unchanged at 8,636.4. Market participants were closely monitoring Thailand’s third-quarter GDP figures and Singapore’s balance of trade data scheduled for release later in the day.

Last Friday in the U.S., the Nasdaq Composite experienced a rebound as investors capitalized on the opportunity to acquire shares of significant technology stocks, following a day when this sector had driven market to its most substantial decline in over a month. The tech-heavy Nasdaq increased by 0.13%, concluding at 22,900.59, thereby breaking a three-day decline. The S&P 500 concluded the session close to unchanged, declining by a mere 0.05% to 6,734.11, whereas the Dow Jones Industrial Average experienced a drop of 309.74 points, equivalent to 0.65%, finishing at 47,147.48.

The three indexes exhibited a notable recovery from their earlier intraday lows, with the Nasdaq and S&P 500 experiencing declines of 1.9% and approximately 1.4%, respectively. The Dow experienced a decline of nearly 600 points, translating to approximately 1.3%.