Asian Shares Slump on Global Growth Concerns

Asian shares and emerging currencies fell on Monday after the U.S. Federal Reserve's decision to keep interest rates at record lows raised fresh concerns about growth globally, particularly in China.

European markets were set to follow suit, with financial spread betters expecting Britain's FTSE 100 to slip 0.4 percent, Germany's DAX 0.5 percent, and France's CAC 40 0.2-0.3 percent.

U.S. stock futures slipped 0.4 percent during the Asian day, suggesting further weakness on Wall Street after major indexes fell more than 1.3 percent on Friday on worries that slower overseas demand will hurt corporate profits.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 2 percent, with Hong Kong down 1.2 percent, Australia 2 percent and South Korea 1.6 percent. Japanese markets are shut through Wednesday.

China was the sole Asian market to defy the downtrend, with the Shanghai Composite index up 1.1 percent and the CSI300 rising 1 percent.