Markets in mainland China and Taiwan are closed all week. Other markets closed today include Hong Kong, South Korea, Malaysia, the Philippines, Vietnam, Indonesia and Singapore.
Japan's Nikkei 225 retraced losses of as much as 1.50 percent by afternoon trade to close up 184.71 points, or 1.10 percent, at 17,004.30, snapping a four-session losing streak.
Japanese financials Mitsubishi UFJ, SMFG and Mizuho Financial retraced some losses to trade mixed, between down 0.29 percent and up 0.61 percent.
Last week, Citigroup downgraded Japanese megabanks Mitsubishi UFJ, Sumitomo Mitsui Financial (SMFG), and Mizuho to Sell, saying that the Bank of Japan's introduction of negative interest rates will likely reduce overall megabanks' net interest income by around 300 billion yen, or around 9 percent of Citi's net profit forecast for this fiscal year.
Reference: Reuters
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