Asian markets tumble; Shanghai bucks the trend

Asian markets were mostly in red owing to profit booking on poor cues from the US markets. China's Shanghai index, however, has bucked the trend and is up 24 points at 4175.

The Nikkei has slumped 281 points to 17,416. The Hang Sang has plunged 249 points to 20,549.

The Taiwan Weighted index has dropped 65 points to 8151, and the Straits Times index has shed 45 points at 3485. The Seoul Composite index is down eight points at 1638.