Asian Stocks Fall On Weak Japan, US Data

Asian markets fell Monday as investor sentiment turned negative with economic data from Japan and the U.S. indicating the faltering economic growth.

The Chinese Shanghai Composite fell 0.94 percent, or 21 points, to 2202.58. Hong Kong's Hang Seng declined 1.44 percent, or 284.25 points, to 19516.39. Major losers were China Overseas Land & Investment Ltd. (3.45 percent) and China Life Insurance Co. Ltd. (3 percent).

Japan's Nikkei Stock Average fell 0.84 percent, or 75.81 points, to 8944.94. Among major losers were Fuji Electric Co. Ltd. (3.65 percent), Fuji Electric Co. Ltd. (3.64 percent) and Tosoh Corp. (3.29 percent).

South Korea's Kospi Composite Index declined 1.17 percent, or 21.72 points, to 1836.48. Shares of Samsung Electronics Co. Ltd. fell 2.67 percent, and shares of Hyundai Motor Co. declined 1.30 percent.

India's BSE Sensex fell 0.33 percent, or 57.34 points, to 17463.78. Major losers were HDFC Bank (1.24 percent), Indian Bank (1.44 percent) and Lanco Infratech Ltd. (2.58 percent).

Japan's core machinery orders, which measure the change in the total value of new orders placed with machine manufacturers, excluding ships and utilities, slumped in May. According to data release by the Japanese Cabinet Office Monday, core machinery orders slumped to 14.8 percent in May, down from a 5.7 percent increase in April.

Meanwhile, China's consumer price inflation eased in June compared to the previous month, increasing hopes for further monetary easing measures to rejuvenate the economic growth momentum. According to data released by the National Bureau of Statistics Monday, China's inflation rose 2.2 percent in June from a year earlier, down from 3 percent increase in May.

Investors were also discouraged by the data released Friday by the Bureau of Labor Statistics that showed only 80,000 new jobs were created in the U.S. in June. The figures also showed that the June unemployment rate remained unchanged at 8.2 percent.