Stocks in Asia slump, dollar steamroll

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Stocks in Asia slump, dollar steamroll

TOKYO, Japan - Stocks in Asia cratered on Monday with major losses being recorded across the board.

The U.S. dollar was gaining steam as it continued its months-long rally.

The Nikkei 225 plunged 836.86 points or 3.01 percent, to 26,987 in Japan. 44.

The Shanghai Composite gave up 29.28 points or 0.89 percent, or 29.28 points, to 3,255. 55.

In New Zealand, the S&P NZX 50 fell 211.56 points or 1.90 percent to 10,924. 74.

The Hang Seng in Hong Kong declined by 738.60 points or 3.39 percent to 21,067. 58.

The Australian stock markets were closed on Monday to mark the Queen's Birthday.

The euro fell to 1.0469 by the Tokyo close Monday as the U.S. dollar steamrolled the foreign exchange market.

The British pound fell to 1.2229. The Japanese yen went up a bit to 134.51 after falling to 135.20 earlier in the day. The Canadian dollar dropped to 1.2842. The Australian dollar was down to 0.6995. The New Zealand dollar was significantly lower at 0.6315.