Asian markets are trading weak in line with the weak closing in the US. The Hang Seng opened 2 percent lower after a four-day break while the Kospi trades at a five-month low. Nikkei tumbles on yen strength.

Sell-off in the market continues as the Sensex is down 166.65 points at 20042.61. The Nifty is down 45.30 points or at 5956.50. About 671 shares have advanced, 1157 shares declined, and 118 shares are unchanged. SBI , Tata Motors and Bharti Airtel are up 1 percent while Cipla and Tata Power are other gainers in the Sensex. Among the losers in the Sensex are GAIL , M&M, Wipro , Hindalco and TCS .

Asian markets are trading weak in line with the weak closing in the US. The Hang Seng opened 2 percent lower after a four-day break while the Kospi trades at a five-month low. Nikkei tumbles on yen strength. Emerging market currencies saw a slump overnight with the Columbian peso closing at the lowest level since December 2009 while the Brazilian real trades at a five-month low.

Asian currencies, however, are mixed with the Korean won and Philippine peso trading lower but the Malaysian ringgit and Indonesian rupiah are recovering. The Indian rupee opened weak in line with the risk off globally. However, dollar sales by foreign banks in anticipation of some dollar inflows help the rupee. Government bond prices are firm tracking a fall in us treasury yields.