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Asian Markets
Chinese shares tumbled on Monday due to sharp declines in the financial and property sectors, while a positive handover from Wall Street underpinned gains in the rest of Asia.
Japan’s benchmark index pared gains after breaching the 17,000 level earlier in the session. Still, the index recovered after closing down more than 1 percent in the previous session and ending the week with its third straight weekly loss.
South Korean shares bounced back from Friday’s 1 percent loss, boosted by a rally amid ship-builders. Hyundai Heavy, Daewoo Shipbuilding and Samsung Heavy Industries rallied over 2 percent each.
Mainland shares fell as much as 6 percent in the morning session after posting a 3 percent weekly gain for the week that ended Friday.
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