Asian markets trade lower

Markets across Asia were leading the losses as investors continued to fret over the Ireland debt crisis. There are concerns of Ireland contagion which may possibly hit Portugal and Spain as well.

South Korea's Kospi Composite was 0.2% lower, Shanghai Composite extended its fall, was down 2.7%, Hong Kong stocks dipped sharply, down 1.6% on policy fears

Investors were skittish due to lack of direction and uninspiring cues from Wall Street. Straits Times dipped 0.9%, Seoul Composite was off 1% and Taiwan Weighted lost 0.3%.

Markets in Japan were shut on account of public holiday.