Asian stocks fell sharply on Monday and the dollar stepped back from its recent highs as surprisingly weak Chinese trade data rattled investors already on edge over the crisis in Ukraine, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.4 percent, and Tokyo's Nikkei stock average shed 1.0 percent, retreating from Friday's six-week high. China's CSI300 index slid to its lowest in nearly nine months, and Hong Kong's Hang Seng Index shed 1.8 percent. The U.S. dollar index, a composite of six currency pairs dipped 0.1 percent to 79.683 after touching a high of 79.847 on Friday after the U.S. jobs data. Against the safe haven yen the dollar stood at 103.12, pulling away from a six-week high of 103.77 hit on Friday. The euro remained near recent highs, with bulls still heartened by the European Central Bank's reluctance last week to take further policy action. The single currency traded at $1.3879, within striking distance of a 2-1/2 year peak of $1.3915 reached on Friday. China's yuan opened trade at 6.1554 per dollar on Monday, down 0.5 percent from Friday's close of 6.1260, before moving to 6.1451. The yuan as well as Chinese short-term rates fell amid expectations Beijing is quietly easing monetary policy to buttress wobbly economic growth. Gold edged lower for a second straight session on Monday after the strong U.S. jobs data eased fears of an economic slowdown and dimmed the metal's safe-haven appeal.
