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Hong Kong - Asian markets retreated on Monday following a fourth successive sell-off in New York, while investors await the Federal Reserve's next policy meeting looking for a handle on its plans for interest rates.
The dollar also remained weak after a disappointing read on the US housing market, while oil was also under pressure owing to a global supply glut.
Tokyo eased 0.41%, Hong Kong shed 1.48%, Shanghai gave up 1.49%, Seoul was 0.30% lower and Sydney was flat.
Investors took a lead from their US counterparts, who continued to cash out on Friday as data showing sales of new single-family homes fell in June and May sales were much lower than previously reported.
The news, which followed a downbeat Chinese manufacturing report, trumped forecast-busting earnings from Amazon.
The Dow fell 0.92%, the S&P 500 dropped 1.07% and the Nasdaq sank 1.12%.
"Share markets are likely to remain volatile as we are still going through a seasonally weak period of the year for shares," Shane Oliver, Sydney-based global strategist at AMP Capital Investors, told Bloomberg News.
"Uncertainties remain regarding Chinese economic growth and a likely Fed interest rate hike lies ahead for later this year."
Focus is now on the Fed's policy meeting this week. While it is not expected to raise rates, dealers are hoping for some forward guidance, with most analysts tipping a hike in either September or December.
On forex markets the dollar was at ¥123.71 early on Monday, down from ¥123.81 in New York and well off the levels above ¥124 earlier on Friday in Asia.
The euro changed hands at $1.0996 and ¥135.90 against $1.0977 and ¥135.89 in US trade.
Oil resumed its downtrend as demand weakens in the face of a slowing Chinese economy, weakness in Europe, oversupply and expectations of a flood of Iranian crude onto world markets.
US benchmark West Texas Intermediate (WTI) for September delivery fell 14 cents to $48.00 and Brent crude for September was down three cents to $54.59 a barrel in morning Asian trade.
The weak US data lifted gold as it pushed back expectations for an early US rate rise.
Bullion fetched $1 095.89 an ounce compared with $1 080.17 late on Friday.
The precious metal has taken a hit in recent weeks as investors pull out of the safe haven looking for better returns elsewhere.
