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Asian shares slipped on Monday after China protested the arrest of a senior executive of Chinese electronics giant Huawei, who is suspected of trying to evade US trade curbs on Iran.
Japan’s benchmark Nikkei 225 slid 2.2 per cent to 21,197.74 after revised data showed that the economy shrank by a worse than expected 2.5 per cent in the third quarter.
South Korea’s Kospi fell 1.3 per cent to 2,047.64. Hong Kong’s Hang Seng shed 1.4 per cent to 25,696.89 and the Shanghai Composite was 0.8 per cent lower at 2,583.90.
Australia’s S&P/ASX 200 declined 2.3 per cent to 5,554.90. Shares fell in Taiwan, Singapore, Indonesia and the Philippines, reports AP.
US stocks tumbled on Friday. The S&P 500 index slipped 2.3 per cent to 2,633.08 and the Dow Jones Industrial Average gave up 2.2 per cent to 24,388.95.
The Nasdaq composite tumbled 3.0 per cent to 6,969.25. The Russell 2000 index of small-company stocks dropped 2.0 per cent to 1,448.09.
US benchmark crude fell 11 cents to $52.50 a barrel. It gained $1.12 to $52.61 a barrel in New York on Friday.
Brent crude, used to price international oils, rose 28 cents to $61.95. The contract added $1.61 to $61.67 a barrel in London.
The dollar weakened to 112.44 yen from 112.72 yen late Friday. The euro rose to $1.1428 from $1.1379.