Asian stocks decline on European and US concerns

Asian equities extended slump on Monday on investors' anxiety about US and European debt trouble. Shanghai Composite index dropped 0.4%, while Hong Kong's Hang Seng Index traded down 0.4%.  Korea's Kospi gave up 1.3% whereas Japan's Nikkei Stock Average and Australia's S&P/ASX 200 index declined 0.2% and 0.4% respectively. According to analysts, enduring uncertainty in Europe is boosting investors' speculations on worst-outcome scenarios.