BEIJING -- China's stock market reacted to the ongoing novel coronavirus outbreak with an anticipated drop Monday, its first trading day on China's lunar calendar, as analysts say pessimism will be short-lived and give way to long-term bullishness.

The benchmark Shanghai Composite Index dropped 7.72 percent to 2,746.61 points and the Shenzhen Component Index closed 8.45 percent lower at 9,779.67 points on Monday, with losers outnumbering gainers by 1,438 to 53 on the Shanghai bourse and 2,086 to 99 in Shenzhen.

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HONG KONG -- Hong Kong stocks closed up 44.35 points, or 0.17 percent, to 26,356.98 points on Monday.

The benchmark Hang Seng Index traded between 26,145.59 and 26,512.58. Turnover totaled 136.68 billion Hong Kong dollars (about 17.59 billion U.S. dollars).

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TOKYO -- Tokyo stocks closed lower Monday, with the benchmark Nikkei stock index ending at a three-month low, as the market inherited a weak tone from Wall Street late last week amid weak economic data and some tepid earnings reports.

The 225-issue Nikkei Stock Average dropped 233.24 points, or 1.01 percent, from Friday to close the day at 22,971.94, marking its lowest closing level since Nov. 1.

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SINGAPORE -- Singapore stocks closed lower on Monday, with the benchmark Straits Times Index (STI) going down 1.19 percent, or 37.42 points, to close at 3,116.31.

A total of 1.96 billion shares changed hands with a turnover of 1.34 billion Singapore dollars (about 979.36 million U.S. dollars). Losers outnumbered gainers by 374 to 112.

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HO CHI MINH CITY -- VN-Index, the stock market index of Ho Chi Minh City bourse in southern Vietnam, closed at 928.14 points on Monday, down 8.48 points, or 0.91 percent against the previous trading day.

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MANILA -- Philippine shares closed 0.89 percent lower on Monday.

The benchmark Philippine Stock Exchange index decreased by 63.76 points to 7,137.03. The all-share index went down by 35.38 points, or 0.82 percent, to 4,256.83.

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SEOUL -- Seoul shares ended almost unchanged on Monday.

The benchmark Korea Composite Stock Price Index (KOSPI) inched down 0.13 points, or 0.01 percent, to settle at 2,118.88. Trading volume stood at 827.3 million shares worth 7.9 trillion won (6.6 billion U.S. dollars).

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WELLINGTON -- New Zealand stock market's indicator, the S&P/NZX 50 index, dropped by 1.43 percent to 11,550 on Monday.

The drop was led by Geo Limited, which went down by 16.67 percent to 0.075 NZ dollars (0.049 U.S. dollars), while SeaDragon Limited jumped by 50 percent to 0.003 NZ dollars.

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JAKARTA -- The Indonesian Composite Index (IHSG) closed on Monday in the red zone.

The index plunged by 55.88 points, or by 0.94 percent, to 5,884.17 during the final trading session.

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MUMBAI -- Indian markets closed higher on Monday.

Buying in select counters helped benchmark indices settle in the positive territory. The benchmark S&P, BSE Sensex closed at 39,872.31, up 136.78 points, or 0.34 percent, compared to its previous close at 39,735.53. Enditem

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