Negative opening for Asian markets

Taking cues from the developments in the US markets overnight, the Asian markets have opened in the negative.

The top loser among the indices are Nikkei down nearly 1%, as a stronger yen weighed on shares of exporters and car makers dropped after Standard & Poors downgraded its outlook on the auto sector.

Hong Kong shares opened flat to slip futher as trading resumed after a holiday-extended four-day Easter weekend, with resource stocks dropping as commodity prices eased after recent gains. The Hang Seng Index is down 0.6% at 23,975.

Shanghai Composite and Seoul Composite are down 0.4% each followed by Jakarta Composite and Straits Times losing 0.3% each.