Asian markets shut shop in the red as Europe fears deepen

All the Asian equity indices ended the day’s trade in the negative terrain on Monday as investors remained concerned over the euro-zone as leaders of the debt-troubled region struggle to find a plan to solve the crisis. The assurances by from G20 finance leaders that they would take strong, co-ordinated action to avoid another global financial crisis, unable to impress marketmen while, the reports that rating agency Moody’s downgraded ratings of eight Greek banks by two notches too dampened the sentiments in the region. Moreover, Seoul shares reached their lowest close in more than 15 months and ended the trade with a cut of over two and a half percent, with foreign investors extending their selling streak into a third session.