All Asian equity indices are trading down with sharp losses on Monday, extending a selloff amid increased risk aversion, as the slowing Chinese economy cast a shadow over the global economy. Mounting evidence that China is going through a rough economic patch has hit the global commodity and equity markets. On the regional front, Chinese equities fell more than 8 percent in early trading, leading a sell-off across Asia that prompted fresh questions about what policymakers might do to staunch the losses. The Japanese stock market tumbled to a five-month low, as investor sentiment was dampened by the sell-off on Wall Street on Friday and the safe-haven yen's strong gains against the US dollar.
Nikkei 225 tumbled by 692.73 points or 3.56% to 18,743.10, Hang Seng slipped 1,039.92 points or 4.64% to 21,369.70, KOSPI Index declined 43.24 points or 2.30% to 1,832.83, Straits Times dipped 99.10 points or 3.34% to 2,871.91, Jakarta Composite contracted 223.36 points or 5.15% to 4,112.59, FTSE Bursa Malaysia KLCI dropped 27.93 points or 1.77% to 1,546.74, Shanghai Composite shed 296.55 points or 8.45% to 3,211.20 and Taiwan Weighted was down by 325.32 points or 4.18% to 7,461.45.