Asian markets affected by energy prices (MarketWatch) (09-06-2008)

HONG KONG (MarketWatch) -- After stocks slumped on Wall Street Friday, Asian indexes also lost heavily on Monday. Energy-related shares such as Inpex Holding were among the few bright spots as crude-oil prices hovered near $138 a barrel.

Japan's Nikkei 225 Average ended the day’s session 2.13% lower at 14,181.38, while the Topix index lost 2.14% to 1,397.54.

South Korea's Kospi index shed 1.7%, Singapore's Straits Times index was off 2.1% and Taiwan's Weighted Price Index fell 2%.

Weak employment data and a surge in crude oil prices made the Dow Jones Industrial Average drop the most in one day in 15 months.

Mitsubishi UFJ Financial Group led banking shares in a broad retreat as higher oil prices stirred inflation worries and fanned concerns a new phase of the credit crunch could be underway. Shares of Mitsubishi UFJ fell 3.5%

In other regional action, New Zealand's NZX-50 gave up 1.4% and Malaysia's KLSE Composite shed 1.6%.

Markets in Australia, China, Hong Kong and the Philippines were closed for public holidays.

.

  Source MarketWatch