Asian stocks also endured losses, although one notable exception was Japan, where the benchmark Nikkei 225 index rose 0.2 percent to close at 8,973.84. Mainland Chinese shares also lost ground, with the benchmark Shanghai Composite Index falling 0.6 percent to 2,380.72 after a day of volatile trading. Investors appeared to take little comfort from a weekend move by the central bank to cut bank reserve requirements by 50 basis points following Friday's release of disappointing economic data. "The liquidity released by the authorities did not ease investors fears over the economic outlook, and the market will remain unstable in the near term," said Zhang Yang, an analyst at Sinolink Securities, based in Shanghai. Last-ditch efforts by President Karolos Papoulias to broker a deal between wrangling party leaders have so far failed, although more talks to form a coalition are planned for Monday.
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