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| Japan's Nikkei falls 3.5% as yen strengthens | Japan's Nikkei falls 3.5% as yen strengthens |
| (35 minutes later) | |
| Japan's benchmark Nikkei 225 finished Monday's session down 3.5% at 16,019.18 as a rise in the value of the yen hurt big exporting companies such as Toyota. | Japan's benchmark Nikkei 225 finished Monday's session down 3.5% at 16,019.18 as a rise in the value of the yen hurt big exporting companies such as Toyota. |
| Investors remained cautious ahead of meetings later this week by the US Federal Reserve and the Bank of Japan, although no rate cuts are expected. | Investors remained cautious ahead of meetings later this week by the US Federal Reserve and the Bank of Japan, although no rate cuts are expected. |
| Uncertainty over the UK's EU referendum is also affecting the markets. | Uncertainty over the UK's EU referendum is also affecting the markets. |
| The yen is often regarded as a haven in times of uncertainty, and the dollar weakened to below 106 yen. | The yen is often regarded as a haven in times of uncertainty, and the dollar weakened to below 106 yen. |
| Shares in Toyota closed down by more than 3.5%, Honda's shares were 4% lower, while Nissan's fell by 4%. | Shares in Toyota closed down by more than 3.5%, Honda's shares were 4% lower, while Nissan's fell by 4%. |
| The Nikkei's close on Monday marks a five-week low and the third straight session of losses. | The Nikkei's close on Monday marks a five-week low and the third straight session of losses. |
| In China, markets followed the downward trend. Hong Kong's Hang Seng index closed down 529.65 points, or 2.5%, at 20,512.99, while the Shanghai Composite ended 3.2% lower at 2,833.07. | |
| Among a raft of economic data released by Beijing earlier, figures showed that growth in China's fixed-asset investment - a key measure of infrastructure spending - slowed in the January-to-May period. | Among a raft of economic data released by Beijing earlier, figures showed that growth in China's fixed-asset investment - a key measure of infrastructure spending - slowed in the January-to-May period. |
| Investment increased by 9.6% from the same period a year earlier, but this was the first time the rate had fallen below 10% since 2000. | Investment increased by 9.6% from the same period a year earlier, but this was the first time the rate had fallen below 10% since 2000. |
| Separate figures showed Chinese industrial output grew at a rate of 6% in May compared with a year ago. The industrial output numbers were in line with most expectations and unchanged from the previous month. | Separate figures showed Chinese industrial output grew at a rate of 6% in May compared with a year ago. The industrial output numbers were in line with most expectations and unchanged from the previous month. |
| Retail sales in China grew 10% in May from a year earlier, also in line with most expectations. | Retail sales in China grew 10% in May from a year earlier, also in line with most expectations. |
| South Korea's benchmark Kospi index closed down 1.9% at 1,979.06. | South Korea's benchmark Kospi index closed down 1.9% at 1,979.06. |
| In Australia, stock markets are closed for the Queen's birthday long weekend. | In Australia, stock markets are closed for the Queen's birthday long weekend. |