SINGAPORE — Stocks in Asia-Pacific slipped in Monday trade, with major markets in China and Japan closed for holidays.

In Hong Kong, the Hang Seng index led losses among the region’s major markets as it fell 1.48% by the afternoon.

South Korea’s Kospi shed 0.19% in afternoon trade. Over in Australia, the S&P/ASX 200 sat below the flatline.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.7%.

Investors in Asia-Pacific continued monitoring the Covid situation in India as the country continues to battle a deadly second wave of infections. Over the weekend, more than 400,000 daily new cases were registered for the first time.

Markets in China, Japan and Thailand are closed on Monday for holidays.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.319 after rising late last month from below 90.9.

The Japanese yen traded at 109.58 per dollar, weaker than levels below 108.5 against the greenback seen last week. The Australian dollar changed hands at $0.7719, following its tumble in late April from above $0.776.

Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures slipping 0.46% to $66.45 per barrel. U.S. crude futures also shed 0.47% to $63.28 per barrel.