Asian shares tumble with Japan markets shut

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings.

On Sturdy, Ezra Holdings filed for U.S. Chapter 11 bankruptcy and reported it had loans of $272 million owed to Singapore's DBS Group as well as $184 million owed to Oversea-Chinese Banking Corp. Stocks of DBS Group and OCBC declined respectively 0.41% and 0.31%.

Additionally, Singapore's benchmark Straits Times index slid 0.4%, while its oil and gas index lost 1.01%.

Apart from that, at the weekend, finance ministers from 20 of the world's leading economies held a two-day gathering and warned against competitive devaluations as well as disorderly FX markets, though failed to agree on keeping global trade open and free.

The S&P/ASX 200 went down 0.36%, the Shanghai composite stood still to weaker, while Hong Kong's Hang Seng managed to gain 0.6%.

The previous week, on Friday, American equities closed moderately lower, notwithstanding the publication of mostly positive economic data, as manufacturing output as well as consumer sentiment data topped hopes, while industrial production decreased in February.

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