Asian equity benchmarks were trading lower in the early deals on Monday after Greece closed its banks and imposed capital controls in a dramatic turn in its struggle with heavy debts. The Japanese market traded lower amid fears of a debt default by Greece following the breakdown in talks between the debt-laden country and international creditors over the weekend.
Nikkei 225 dipped 442.14 points or 2.14%to 20,264.01, Jakarta Composite contracted 59.95 points or 1.22% to 4,863.05, FTSE Bursa Malaysia KLCI slipped 17.70 points or 1.03% to 1,692.77, Shanghai Composite decreased 157.40 points or 3.75% to 4,035.48, Straits Times declined 44.46 points or 1.34% to 3,276.44, Hang Seng crumbled 714.57 points or 2.68% to 25,949.30, KOSPI Index dropped 27.57 points or 1.32% to 2,062.69 and Taiwan Weighted was down by 220.23 points or 2.33% to 9,242.34.