Asian shares mixed as China markets close for holiday

<p>A holiday in China gave investors respite from market turmoil.</p>

Asian stocks were mixed today (September 3rd) in a quiet session, with markets closed in China and Hong Kong for the commemoration of the end of World War II.

"Away for the Victory Day long weekend today and tomorrow, China's 'bed rest' means that a break from Shanghai stock gyrations will make for much less nail-biting," analysts from Mizuho Bank said in note.

"[However,] respite in global equities may only reflect temporarily allayed concerns about whether the rest of the world was going to catch a cold from China's sneeze," they added.

Asian indices have seesawed in recent days on growing fears about China's economy. On Tuesday, new data revealed the country's manufacturing sector had contracted in August.

Japan's Nikkei 225 rose 0.5 per cent to 18,182.39 and South Korea's Kospi remained flat at 1,915.13. Australia's S&P/ASX 200 was down 1.4 per cent to 5,027.80.

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