Several Asian markets ended lower for a second day on Monday, with banking shares such as Mitsubishi UFJ Financial Group leading the decline in Japan, while shares in China and Hong Kong ended lower on late selling after a strong recent rally.
In Tokyo, Nikkei 225 index shed 101.15 points, or 0.56 percent, on the Tokyo Stock Exchange to 18,087.48 while in Hong Kong, the blue chip Hang Seng Index fell 177.56 points, or 0.8 percent, to 21,822.35.
Investors took profits in Japanese real estate and trading companies. Losers included Mitsui Fudosan Co., which dropped 2.83 percent to 3,430 yen ($27.66), and trading company Sumitomo Corp., which fell 3.03 percent to 2,240 yen ($18.06).
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MANILA: Philippine shares declined Monday, in step with Wall Street, as investors cashed in on gains that pushed the market to a new record high last week. The benchmark 30-company Philippine Stock Exchange Index lost 47.58 points, or 1.3 percent, at 3,653.58, adding to Friday's 0.4 percent fall. The index hit a record close of 3,718.88 on Wednesday.
SHANGHAI: Chinese stocks fell Monday amid renewed worries an interest rate hike may be looming, though some blue chips rose as funds bought for window dressing purposes. The benchmark Shanghai Composite Index fell 3.7 percent to 3,941.08 in volatile trading. The Shenzhen Composite Index of China's second, smaller market fell 5.1 percent to 1,127.37.
TAIPEI: Taiwan shares surged to a fresh seven-year high on Monday as foreign investors bought into plastics and tech stocks. The Weighted Price Index of the Taiwan Stock Exchange rose 126.28 points, or 1.4 percent, to close at 8,939.19 points in robust volume.
With files from wire services
