Weak start for Asian markets

The Asian markets have started the week in the red due to the dismal U.S. jobs report and a spike in Chinese inflation stoked investor caution.

The top losers in the morning trades were Taiwan Weighted, Seoul Composite,Straits Times and    Hang Seng all down nearly 1%  each. In the Hong Kong markets financials and energy shares were the major draggers.

The least affected in today's downturn was the Shanghai Composite losing just 0.2%. China’s consumer prices zoomed to a three-year high in June as food prices soared, according to data released Saturday, reaffirming expectations that Beijing won’t be in a hurry to relax its tightening monetary-policy bias. 

Nikkei is down nearly 0.5%. The jobs report pushed the dollar lower against the yen, hurting exporters and auto-maker shares is leading the losses.