Asian Stocks Cautious on Monday as Oil Tops $90; Tokyo Closed for Holiday

Asian stock markets were cautious and subdued on Monday, July 20 (29 Tir), as oil prices jumped above $90 a barrel and fanned inflation fears. Tokyo's market was closed for a public holiday, having shed 6.4 percent last week amid a selloff in chip stocks. The broadest index of Asia-Pacific shares outside Japan eased about 0.3 percent.

Chip-heavy South Korean shares fell again, extending a steep near-9 percent slide from the prior week, while Hong Kong's Hang Seng rose about 1.7 percent. Alongside the war and oil prices, investors are looking ahead to the corporate earnings season.