Stocks across Asia ended sharply lower Monday, with indexes in Japan, Malaysia, Hong Kong, and Singapore retreating more than 3%. Investors reduced their exposure to the region following a weaker finish for U.S. stocks at the end of last week.
Japan's Nikkei 225 Index (JP:1804610: news, chart, profile) posted its fifth losing session in a row, as Toyota Motor Corp. and other export-related shares in tandem with the yen rising to a three-month high against the U.S. dollar.
The Nikkei ended down 3.3%, falling 575.68 points at 16,642.25. Tokyo's broader Topix benchmark fell 3.4% to 1,662.25.
With a certain degree of panic in today's trading pattern, shares of Toyoya lost 3.2%. There is concern that the yen's rise to the 115 level to the dollar could begin to affect profits.
The Hang Seng Index tumbled 777.13 points, or 4 percent, to 18,664.88. All 36 blue chips closed down in the ninth largest point decline in the market's history.
The main Shanghai Composite Index closed at 2,783.31. The smaller Shenzhen Composite Index fell 0.7 percent to 725.82.
Elsewhere:
KUALA LUMPUR: The Kuala Lumpur Composite Index ended Monday 4.6 percent down, reaching its lowest level in nearly two months as selling persisted
MUMBAI: India's benchmark stock index dropped 3.8 percent Monday as investors took cues from weakening global markets.
MANILLA: The benchmark Philippine Stock Exchange Index fell 142.46 points, or 4.5 percent, at 2,997.88, adding to Friday's 1.4 percent loss. Monday's close is the worst since Jan. 12.
SEOUL: The Korea Composite Stock Price Index fell 38.32 points, or 2.7 percent, to 1,376.15, its biggest percentage decline since selling turmoil hit global stock markets last week.
With files from wire services
