AFP, Hong Kong :
Asian markets sank further in holiday-thinned trade on Monday, following another global sell-off caused by anxieties over emerging markets and further disappointing manufacturing data out of China.
The euro edged up against the yen after falling in New York in response to weak eurozone inflation figures that added to fears of deflation in the currency bloc.
Tokyo fell 1.98 percent, or 295.40 points, to 14,619.13 and Seoul slipped 1.09 percent, or 21.19 points, to 1,919.96.
Sydney closed flat, edging down 2.1 points to 5,187.9 while Wellington eased 0.51 percent, or 25.08 points, to 4,849.50.
In the afternoon Manila was down 0.32 percent and Singapore was 1.11 percent off.
However, Bangkok was up 1.10 percent despite chaotic weekend elections that saw thousands of polling stations closed by opposition protestors following weeks of anti-government demonstrations.
Shanghai, Hong Kong, Taipei and Kuala Lumpur were closed for the lunar new year holiday.
Global equities tanked last week after the US Federal Reserve said it would further cut its stimulus programme, sparking fears of a flight of capital from developing nations while also sending their currencies falling against the dollar.
Even figures showing the US economy grew much quicker than expected could not ease the falls.
On Friday the Dow sank 0.94 percent, the S&P 500 fell 0.65 percent and the Nasdaq lost 0.47 percent.
Earlier in Europe the FTSE 100 in London ended 0.43 percent lower, Frankfurt’s DAX 30 dropped 0.71 percent and the CAC 40 in Paris slid 0.34 percent.
“There’s still some nervousness about emerging markets,” investment adviser Christopher Macdonald told Dow Jones Newswires. “People are wondering if the jitters we saw last month are a sign of some bigger dislocation in the market.”
Adding to the downbeat outlook was official data from China pointing to a slowdown in manufacturing activity in the world’s number two economy and key driver of global growth.
