HONG KONG: Asian shares fell Monday with Europe's debt crisis hitting sentiment, while the announcement of the death of North Korean leader Kim Jong-Il also weighed amid uncertainty over the geopolitical outlook.
Markets began the day on a low after Belgium's credit rating was cut, France's outlook was lowered and six other eurozone members were put on downgrade watch.
Tokyo fell 0.84 percent by the break, Hong Kong was two percent lower, Sydney tumbled 2.39 percent and Shanghai gave up 2.21 percent.
Seoul was down more than four percent.
North Korean state television said 69-year-old Kim died on Saturday and that the country must now follow his son Kim Jong-Un. Stock markets slipped further soon after the announcement as dealers become nervous about the future direction of the nuclear-armed communist country.
On currency markets the euro bought $1.3035 and 101.43 yen in early Asian trade Monday, compared with $1.3032 and 101.37 yen in New York late Friday.
The dollar was also flat against the Japanese currency, trading at 77.81 yen.
New York's main contract, light sweet crude for delivery in January, fell 43 cents to $93.10 a barrel while Brent North Sea crude for February shed 55 cents to $102.80.
Gold was trading at $1,593.20 an ounce at 0200 GMT, against $1,590.95 an ounce late Monday.
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