Asian equities dive as weakness in China markets affects mood

Asian equities dive as weakness in China markets affects mood

On Monday, Asian stocks declined, with market sentiment affected by a retreat on Wall Street as well as dipping Chinese shares, while the common currency skidded after German coalition negotiations hit an impasse.

MSCI's index of Asia-Pacific equities extended losses and slumped 0.2%.

Australian stocks headed south 0.1%, Japan's Nikkei stock average N225 lost 0.6%.

China shares dived abruptly after Beijing set sweeping fresh guidelines for the purpose of regulating asset management products. Market experts told that it could affect investor appetite for risky assets.

The Shanghai Composite index inched down 0.8%, China's blue-chip CSI300 Index declined 0.7%.

On Friday, the Dow Jones Industrial Average lost 0.4%. Additionally, S&P 500 decreased 0.3% and the Nasdaq Composite headed south 0.2%.

Versus the Japanese yen, the evergreen buck stood still sticking to 112.01, having dropped to 111.89, which is its lowest reading since October 16.

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