Asian shares fall to nine-month low

Asian shares prices came under pressure on Monday as oil prices briefly sank to fresh 5-1/2 year lows in choppy trade. Investors were nervous after US shares posted their biggest weekly fall in 2-1/2-years last week on losses led by energy sector. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell to its lowest level since March at one point, at last stood down 0.8 per cent. Japan's Nikkei share average .N225 fell 1.6 per cent. China stocks fell on Monday. The CSI300 index fell 0.7 per cent, to 3,172.25 points at the end of the morning session, while the Shanghai Composite Index lost 0.8 per cent, to 2,915.36 points. Hong Kong's Hang Seng index dropped 1.1 per cent to 23,003.02 points. The Hong Kong China Enterprises Index lost 0.9 per cent, to 11,134.97. US crude futures CLc1 fell more than 2.5 per cent at one point to as low as $56.25 per barrel CLc1 before rising back to positive territory. They were last up 1.0 per cent at $58.40. The Australian dollar also fell to 4 1/2-year lows. The dollar briefly fell to as low as 117.78 yen JPY=, edging near two-week low of a 117.445 hit last week. The dollar last stood at 118.56 yen, down 0.2 per cent, according to Reuters.