Asian equity benchmarks are trading lower in the early deals on Monday following decline in US stocks on Friday, amid nervousness about the state of global oil markets. The Organization of the Petroleum Exporting Countries gathers for an informal meeting this week in Algiers, with production cuts likely up for discussion. Besides, investors’ attention turned from central banks to American politics ahead of the first US presidential debate this week.
Nikkei 225 dropped 154.70 points or 0.92% to 16,599.32, Hang Seng declined 159.78 points or 0.67% to 23,526.70, Jakarta Composite slipped 32.44 points or 0.60% to 5,356.47, KOSPI Index contracted 7.32 points or 0.36% to 2,046.75, Taiwan Weighted crumbled 83.52 points or 0.90% to 9,201.10, FTSE Bursa Malaysia KLCI dipped 2.48 points or 0.15% to 1,668.51, Straits Times decreased 8.92 points or 0.31% to 2,848.03, and Shanghai Composite was down by 21.56 points or 0.71% to 3,012.34.