Asian stock markets were mostly lower Monday, the Associated Press reported. Shanghai advanced after the Chinese central bank nudged down its target rate for a five-year loan to shore up weak housing sales. Tokyo, Hong Kong, Seoul and Sydney retreated. Oil prices fell more than $1 per barrel. The Shanghai Composite Index rose 0.5% to 3,272.89 while the Nikkei 225 in Tokyo sank 0.5% to 28,794.79. The Hang Seng in Hong Kong shed less than 0.2% to 19,743.12. The Kospi in South Korea gave up 1.2% to 2,462.03 and Sydney's S&P ASX-200 fell 0.9% to 7,051.70. India's Sensex opened down 1.1%, dipping to 58,992.24. New Zealand and Singapore advanced while Bangkok and Jakarta declined. In energy markets, benchmark U.S. crude lost $1.19 to $89.25 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international trading, shed $1.18 to $95.54 per barrel in London. The dollar rose to 137.24 yen from Fridayâ€TMs 136.91 yen. The euro gained to $1.0035 from $1.0034.
