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In South Korea, the Kospi shed 22.78 points, 1.19 percent, to close at 1,894.84 on Monday's session, with commodities sectors seeing early losses.

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Rio Tinto and BHP Billiton, Australia's two biggest miners, shed 3.34 and 4.89 percent respectively, while iron ore producer Fortescue saw losses of 4.93 percent.If that index moved by 7 percent, trade was halted for the rest of the session. But a weaker Aussie was not necessarily negative for Australia's economy, Bloxham said, because it could help to offset the lower commodity prices that were hitting local income growth and speed up the economy's rebalancing toward non-mining sectors. crude futures were down 2.02 percent at .49 a barrel, after falling 10.47 percent in the previous week.By the end of the week, China suspended its circuit breakers, but investors remained wary over the country's ability to handle financial turmoil. Paul Bloxham, chief economist for Australia and New Zealand at HSBC, said in a note that this was the third time since the global financial crisis that the Aussie had fallen below 70 U. Energy plays in Asia traded in the red, weighed by further declines in oil prices. Globally traded Brent futures were down 2.18 percent at .80 a barrel; last week, Brent futures shed 10 percent.Shares of Korean Aerospace Industries closed down 4.42 percent. S., major indexes closed the first trading week of the year in the red as global economic concerns outweighed an above-expectation jobs number for December.The Dow Jones Industrial Average lost 6.1 percent for the week, closing at 16,346.45.

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