Most shares in Asia fell Monday, amid a prolonged slump in crude prices and ongoing worries that China is losing its grip on its economy and markets.
Japan’s Nikkei tumbled as much as 2.8% to a one-year low, sending the index briefly into bear territory, while the Hang Seng Index, which has been in a bear market since August, fell 1.5%.
Chinese shares turned against the tide, however, after the PBOC took more measures to support the renminbi. Effective Jan. 25, China's central bank will start implementing a reserve requirement ratio on some banks involved in the offshore yuan market. Shanghai +0.4% to 2,914.
Previously: China to raise offshore yuan reserve requirements (Jan. 17 2016)
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