Market Update
Shares in Asia ended lower in trade Monday, following continuing sovereign-debt concerns in Europe and after commodity prices dipped on the uncertain global economic outlook.
At close, Japan's Nikkei, China's Shanghai Composite, Hong Kong's Hang Seng, India's Sensex and Australia's ASX lost 0.8% to 1.4%.
The U.S. dollar rose as risk-averse investors shied away most equities and commodities.
Stocks on the Move
Exporter stocks witnessed selling after the yen rose: Toyota, Nissan and Mazda declined 1% to 2.4%.
Financials were also pressured amid concerns they may be asked to write down losses for loans given to troubled power producer Tepco. Sumitomo Mitsui, Mizuho and Mitsubishi UFJ were off 1.5% to 2.1%.
In China and Hong Kong, resource stocks were the worst hit after the sell-off in commodities: Aluminum Corporation of China, Baoshan Iron & Steel, Jiangxi Copper and Yunnan Tin lost between 1% and 2.7%.
Indian stocks fell amid data showed inflation to be rising, coming close on the heels of a recent hike in fuel prices that may further fan inflationary pressures.
Interest rate-sensitive stocks lost ground: State Bank of India and ICICI Bank declined 1.2% and 1.7%, respectively.
In Sydney, heavyweight miners BHP Billiton and Rio Tinto fell 1.8% and 1.4%, respectively, bogging down the index.