US President Donald Trump, meanwhile, said it was “fine” if planned talks in September were called off.
In Hong Kong, protests continued to escalate for a 10th consecutive weekend, with police again using tear gas against protesters, who hurled projectiles and petrol bombs. The social unrest is the biggest challenge to Chinese control of the city since it was handed back by the UK in 1997, and is increasingly starting to impact the economy.
Markets in Japan, Singapore, India, Malaysia, Philippines and Thailand are shut for various public holidays on Monday.
Stay with us, Azar Zaidi and Louise Moon in Hong Kong, as we track developments in the Hong Kong and mainland China markets.