Asian stocks were off to a dismal start to the week on the back of offshore declines and as the fall in commodity prices continues to sap risk appetite.
China’s benchmark Shanghai Composite index slumped more than 2 percent from the get-go, as the country’s industrial profits declined 0.3 percent year-on-year in June, according to data released by the statistics bureau at the open.
South Korea’s Kospi index dropped to a two-week low as the won weakened 0.2 percent to 1,172.1 against the greenback – a fresh low since June 2012.
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