Asian Markets: Nikkei hits 11-week low


Shares in Asia were weak on Monday with Japan's Nikkei Index closing at an 11-week low of 9,674 -- down 0.6 percent. Shares were hampered both by Friday's worse-than-expected jobs report out of the U.S. indicating that the economy may be in a worse state than previously suspected, and by Nouriel Roubini's dire prediction that another market correction may be on the way.

In Japan, Nippon Chemical Industries Co. (NPNHF) dived 9.6 percent after announcing a predicted 1.08 billion yen profit loss. The chemical company had previously anticipated a 100 million yen profit. Contractor company Haseko Corp. plunged 7.7 percent, and real estate company Leopalace21 Corp. (LEOPF) fell 4.3 percent. Engineering and design computer system developer Zuken Inc. (ZUKNF) plummeted 9 percent after admitting that cost cuts had not made up for lost sales and nearly halving its net income forecast.