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Asia shares down on poor US week Asia shares down on poor US week
(35 minutes later)
Shares across Asia were in negative territory in early trading on Monday after a poor week on Wall Street.Shares across Asia were in negative territory in early trading on Monday after a poor week on Wall Street.
Japan's benchmark Nikkei 225 index was leading the region's losses at the start of the week, down by 0.7% to 20,404.66 points. Markets also opened after manufacturing activity in the world' second largest economy, China, was at a 15-month low at the end of last week.
The mainland's benchmark index, the Shanghai Composite, was down 1.4% to 4,015.89 points.
Hong Kong's Hang Seng index traded 1.6% down at 24,731.69 points.
In Japan, the country's benchmark Nikkei 225 index was 0.4% to 20,471.20 points.
Investor mood was also held back by the yen strengthening against the US dollar, making exports more expensive.Investor mood was also held back by the yen strengthening against the US dollar, making exports more expensive.
Traders are looking at a week of earnings, with Cannon and online broker Monex to report results on Monday.Traders are looking at a week of earnings, with Cannon and online broker Monex to report results on Monday.
Nissan, Panasonic and Nintendo will be among the big names reporting results later in the week.Nissan, Panasonic and Nintendo will be among the big names reporting results later in the week.
In South Korea, the Kospi index was down by 0.5% to 2,036.14 points. In South Korea, the Kospi index was down by 0.3% to 2,040.56 points.
Daewoo Shipbuilding was among the major market movers, down by more than 4% on media reports suggesting poor earnings for its second quarter results. Daewoo Shipbuilding shares heavily fluctuated in early trade dropping as much as 4% on media reports suggesting poor earnings for its second quarter results.
Investors across the region were also looking at China after mainland shares on Friday broke a six day rally after manufacturing activity was reported at a 15-month low. Australian shares traded flat with sentiment weighed down by the ongoing slump in commodity prices.
Australian shares were also in negative territory with sentiment weighed down by the ongoing slump in commodity prices. The country's ASX/200 remained unchanged at 5,561.70 points.
The country's ASX/200 index was down 0.4% to 5,545.20 points.
closed 0.7% down at 20,544.53 points.closed 0.7% down at 20,544.53 points.
In Seoul, the Kospi indexIn Seoul, the Kospi index
In Australia,In Australia,
Australaina dollar at a six year lowAustralaina dollar at a six year low
weack chinese PMIweack chinese PMI
rexources iron ore steady, gold and oil still lowrexources iron ore steady, gold and oil still low