Asian equity benchmarks are trading down in the early deals on Monday as investors registered their disappointment over the lack of fresh stimulus from Japan's central bank. The surge in the Japanese yen and bleak readings from a monthly factory managers' survey did little to lighten the gloom. Meanwhile, Japanese stock indexes tumbled to near a three-week low after the yen hit a fresh 18-month high against the dollar, hurting the profit outlook for exporters and other shares with profits tied to a weak yen. Among the other Asian markets, Shanghai, Hong Kong, Singapore, Taiwan, and Malaysia are closed in observance of Labor Day.
Nikkei 225 dipped 579.79 points or 3.48% to 16,086.26, KOSPI Index slipped 14.33 points or 0.72% to 1,979.82, and Jakarta Composite was down by 35.52 points or 0.73% to 4,803.06.