Asia Markets Rattled To Join In Global Equity Rout

Asia markets opened under heavy pressure on Monday, following the steep retreat in the U.S. to end last week. The Shanghai Composite fell more than 5% to lead declines, after the index shed 11.5% last week. This even after word of China's move to allow pension funds managed by local governments to pour money in the stock market for the first time. The Nikkei shed 2.1% while the Hang Seng gave up 3.6%. Overall, the Asia Dow index lost 2.9%