DHAKA: Japanese shares hit a one-year low early on Monday following big falls in the US and as oil prices dropped below $28 for the first time since 2003.

The benchmark Nikkei 225 fell to its lowest level since the beginning of 2015. By mid-morning it had regained some ground and was down 1.37% at 16,912.23, reports the BBC.

In Australia, investors were also reacting to falling oil prices.

The benchmark S&P/ASX 200 index was down 0.8% at 4,854.40 points.

Energy-related stocks were falling across the board, with BHP Billiton shares down 3.2%, Woodside down 1.8%, and Santos shares down nearly 7%.

The country's big lenders were also seeing falls on Monday, with ANZ's shares down 1.2% and Westpac's down 1%.

In South Korea, the benchmark Kospi index was down 0.39% at 1,871.61, in line with falls across the region.

BDST: 1052 HRS, JAN 17, 2016
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