Asian stock markets continued their losing streak on Monday following a global sell-off last week, with Tokyo and Hong Kong touching record lows in months.

The Tokyo stock market posted losses for the fifth trading day in a row, closing 3.34 percent lower at 16642.25 points, the lowest in more than two months.

Analysts said worries of a slowdown of U.S. economic growth and appreciation of the Japanese yen against the U.S. dollar were the main causes of the plunge.

Hong Kong's Hang Seng Index closed four percent lower, dropping to the lowest level since December.

In Seoul, the composite index fell 2.71 percent, or 38.32 points, to close at 1376.15 points, the sharpest single-day decline in nine months.

Meanwhile, South Korea's KOSDAQ index closed with a drop of 2.14 percent at 594.03 points.

Australia and New Zealand stock prices shed 2.29 percent and 1.57 percent, respectively. Elsewhere, markets in the Philippines, Malaysia and India also suffered losses.

Many analysts attribute the fall of Asian markets to Tuesday's plunge by global markets, while others believe the downturn is a "healthy" correction after surges by many Asian markets in recent months.

Source:Xinhua