Another Negative Day on Asia Markets

Shares in the Asia-Pacific mostly fell sharply on Monday as negative sentiment continues to weigh in on markets.

The Nikkei 225 returned to trading after a long weekend, losing 722.28 points, or 2.7%, to 26,431.55.

The Japanese yen lost ground against the U.S. dollar in Asia’s morning trade, changing hands at 143.60.

In Hong Kong, the Hang Seng index fell 78.13 points, or 0.4%, to 17,855.14.

Onewo, a subsidiary of property developer China Vanke, is set to debut on the Hong Kong stock exchange this week as well.

Korea’s won was at its weakest levels since 2009, trading at 1,423 against the greenback.

Australia’s dollar, meanwhile, strengthened slightly to $0.6532.


In Shanghai, the CSI 300 lost 19.34 points, or 0.5%, to 3,836.68.

The People’s Bank of China announced Monday it would increase the risk reserve requirement on foreign exchange forward sales to 20% from 0%, effective September 28. The move makes selling the yuan more expensive.

The offshore Chinese yuan weakened to 7.1475 per dollar.

In other markets

In Singapore, the Straits Times Index dropped 45.13 points, or 1.4%, to 3,181.97.

In Korea, the Kospi index retreated 69.06 points, or 3%, to 2,220.94.

In Taiwan, the Taiex folded 340.19 points, or 2.4%, to 13,778.19

In Australia, the ASX 200 gave back 105.32 points, or 1.6%, to 6,569.41.

Markets in New Zealand were closed for holiday.