Asian stocks fell on Monday, as fears of more turmoil in the Middle Eastand higher oil prices overshadowed solid U.S. payroll data .
Japan's stocks tumbled, falling below a key support level and erasing last week's gains.
The benchmark Nikkei fell 1.8 percent. At one point, the Nikkei hit an intraday low. The broader Topix index shed 1.5 percent to 941.63.
The resignation of Japanese Foreign Minister Seiji Maehara over political donations added to troubles facing unpopular Prime Minister Naoto Kan but participants said it had no immediate impact on the market.
The benchmark Nikkei fell 1.8 percent, dropping below immediate support of 10,537.09, the kijun line on its daily Ichimoku chart. At one point, the Nikkei hit an intraday low of 10,472.51.
The broader Topix shed 1.5 percent to 941.63.
The chairman of Chinese drinks maker Hangzhou Wahaha said at the weekend he was considering buying a Japanese dairy firm, pushing Megmilk Snow up 2.3 percent and Morinaga Milk up 1.8 percent to 348 yen.
Japan's largest oil and gas developer Inpex extended gains, adding 1.6 percent to 588,000 yen. It has surged some 24 percent so far in 2011 amid turmoil in the Middle East, outperforming the Nikkei's 2.7 percent gain in the same period.Page 1 of 4 | Next Page