3 Oct 2011

Asia markets start week lower

10:15 pm on 3 October 2011

Stock markets across Asia and Australia fell again on Monday following Greece's announcement it will not reach the deficit target set by the International Monetary Fund and the European Union.

In Australia, the All Ordinaries index fell 109.4 points, or 2.69% to 3,960.7, while Japan's benchmark Nikkei index dropped 1.8% to 8,545.48 on fears that the eurozone debt crisis will spread.

Hong Kong's Hang Seng index is nearly 5% down and heading for its lowest close since May 2009.

New Zealand's NZ50 index was 0.8% lower at 3,316 by the close of trade on Monday.