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TOKYO -- Japan's stock markets were closed for a holiday Monday, but the rest of the region's equity markets were led lower by weak technology and telecom shares.

Hong Kong's

Hang Seng

closed down 491.2, or 3%, at 15,693.5, as index heavyweight

China Mobile


tanked HK$3.25, or 5.5%, to 55.75 ($7.15). Volumes remained low, however, as Hong Kong was returning from a long weekend after being shut for its own local holiday on Friday.


Hutchison Whampoa

fell 3.00, or 2.8%, to 104.00 and

Hang Seng Bank

ended down 0.50, or 0.6%, at 86.75.

Feeling pressure from the


nasty drop last week, Taiwan's technology-heavy


index dropped 142.6, or 2.3%, to 6209.4. The index surged Friday amid government supported buying from its $16-billion stabilization fund. South Korea's


index also got walloped by Wall Street, closing off 19.7 points, or 3.2%, at 589.2.