Asian Markets Trade Almost Uniformly Lower

Asia markets fell across the board on Monday, following a sharp decline in U.S. stocks on Friday on a stronger-than-expected jobs report that sent interest rates higher.

The Nikkei 225 average in Japan dove 592.45 points, or 2.6%, to 22,682.08,

The Hang Seng Index in Hong Kong faltered 356.56 points, or 1.1%, to 32,245.22

In the currency market, the Japanese yen traded at 109.93 to the U.S. dollar, strengthening from an earlier low of 110.29.

Some of the major export stocks closed lower: Shares of Toyota fell 1.6%, Mitsubishi Motors declined 0.7% and Canon was down 3.3%. Honda shares, however, rose 2.1%, beating the broader market trend after the car maker raised its full fiscal year profit forecast on Friday.

In Australia, the heavily weighted financial sub-index was down 1.3%, while the energy and materials sectors fell 2.6% and 2.2%, respectively.

The biggest banking names in the country fell: Shares of ANZ were down 1.3%, Commonwealth Bank declined 1.2%, Westpac was down 1.2% and the National Australia Bank fell 1.3%

Major Australian miners were mostly lower. Rio Tinto shares fell 2.2%, Fortescue retraced losses to finish flat and BHP Billiton declined 2.1%

Meanwhile, the Australian dollar traded at $0.7933 U.S., climbing from an earlier session low of $0.7887.

CHINA

In Shanghai, the CSI 300 inched up 2.92 points, or 0.1%, to 4,274.15

On the data front, China's services sector expanded at its fastest pace in almost six years, according to a private survey. The Caixin/Markit services purchasing managers' index rose to 54.7 in January from December's 53.9, the highest reading since May 2012

In other markets

The Kospi in Korea gave back 33.64 points, or 1.3%, to 2,491.75

In Taiwan, the Taiex Index slumbered 179.98 points, or 1.6%, to 10,946.25

In Singapore, the Straits Times Index slid 46.89 points, or 1.3%, to 3,482.93

In New Zealand, the NZX 50 tumbled 173.46 points, or 2.1%, to 8,241.83

The ASX 200 backtracked 95.16 points, or 1.6%, to 6,026.23