Major bourses in Asia were flat to higher on Monday, as concerns over Beijing’s regulatory crackdowns lingered after a report by the Financial Times showed that Beijing wants to break up Alipay and create a separate app for the company’s loans business. Meanwhile, maritime tensions in the Pacific resurfaced, with Japan saying Sunday that a submarine believed to be from China was spotted in waters near its southern islands. The Hang Seng led the losses, tumbling nearly 2%, while the Shanghai Composite was up 0.3%, despite reports that Blackstone Group scrapped what would have been China‚Äôs largest real estate buyout. In Japan, the Nikkei 225 ended 0.2% higher although Toyota Motor lowered its global vehicle production forecast for FY 2021 to about 9 million units from 9.3 million, due to difficulty in procuring parts from Southeast Asia. Stocks in Australia ended 0.3% higher and the Kospi ended flat.