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Stocks in Asia Tumble over Fed Jitters

Asian shares tumbled on Monday after a sharply lower finish for major U.S. indexes on Friday amid concerns central banks, particularly the Federal Reserve, will become less accomodative.

The Nikkei 225 index in Tokyo tumbled 292.84 points, or 1.7%, to 16,672.92

In Hong Kong, the Hang Seng Index plummeted 809.1 points, or 3.4%, to 23,290.60

On the data front, Japan's July core machinery orders rose a larger-than-expected 4.9% from the previous month, which suggested that private capital expenditure might have picked up.

In company news, Samsung weighed on the Kospi, with its shares dropping 7%, extending losses from the previous session after the South Korean firm and several airlines urged all customers to stop using the Galaxy Note 7 smartphones amid concerns over fire-prone batteries.

Australian markets were weighed heavily by the energy sector, which was down 3%, the materials sub-index, which shed 3.2%, and the financials sector, which was lower by 2%.

CHINA

The Shanghai CSI 300 fell 55.44 points, or 1.7%, to 3,262.60

On Monday, China was set to release August new yuan loans, August foreign direct investment and August money supply

In other markets

Markets in Singapore were shuttered for holiday

The Taiex Index in Taiwan stumbled 106.63 points, or 1.2%, to 8,947.06

In Korea, the Kospi index faltered 46.39 points, or 2.3%, to 1,991.48

In New Zealand, the NZX 50 dropped 188.84 points, or 2.5%, to 7,279.76

The ASX 200 lost 119.57 points, or 2.2%, to 5,219.61