Asian shares slump as Japanese exports disappoint

Asian stock markets echoed Wall Street's overnight slump as investors fretted over declining Japanese export figures.

The MSCI Asia Pacific index fell 0.6% and Japan's Nikkei 225 saw a similar fall of 0.7%, while Hong Kong's Hang Seng index fell 0.8%. Japanese exports fell the most in six months in July as shipments to Europe and China declined, adding to concerns that Asian export engines are suffering as a result of slowing growth in China and eurozone woes. Japanese exports fell much further than analysts had forecast at 8.1%. The median forecast had averaged around 2.9%. Exports to the European Union fell 25.1%, the largest drop since October 2009, compounding fears that the trading bloc has s...