Asian markets trade lower in early deals on Monday

All the Asian equity benchmarks, barring Shanghai Composite, are trading in the red terrain in Monday’s morning deals on concern the US government is headed for a shutdown amid a budget stalemate. Investors remained cautious with the U.S. government slated to reach its borrowing limit of $16.7 trillion in mid October. Back on regional turf, the Japanese stock were trading with a cut of over a percent, tracking the weak lead from Wall Street and a stronger yen. In addition, weaker than expected local industrial production data also weighed on investor sentiment. Industrial production in Japan fell a seasonally adjusted 0.7 percent in August compared to the previous month. On a yearly basis, industrial production eased 0.2 percent - also shy of expectations for a gain of 0.4 percent following the 1.8 percent spike in the previous month.

Hang Seng declined 255.58 points or 1.10% to 22,951.46, Jakarta Composite dropped 61.00 points or 1.38% to 4,362.72, KLSE Composite shed 12.60 points or 0.71% to 1,763.56, Nikkei 225 decreased 172.44 points or 1.17% to 14,587.63, Straits Times slipped 18.09 points or 0.56% to 3,192.09, Seoul Composite contracted 6.90 points or 0.34% to 2,004.90 and Taiwan Weighted was down by 51.35 points or 0.62% to 8,179.33.

On the flip side, Shanghai Composite was up by 13.17 points or 0.61% to 2,173.19.