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Economy

Nikkei Asia300 Index declines on Samsung, Chinese automakers

HONG KONG (Nikkei Markets) -- Asian stocks outside of Japan edged lower on Monday, weighed by losses in index heavyweight Samsung Electronics and Chinese carmakers.

The Nikkei Asia300 Index declined 0.1% to 1,295.20. Samsung Electronics fell 2% in Seoul, extending losses from Friday, after the group's heir apparent Lee Jae-yong was sentenced to five year's imprisonment in relation to a corruption scandal that caused the ouster of the country's previous President. China's Great Wall Motor slid 3.9% following a 51% plunge in first-half profit. Rival Dongfeng Motor Group tumbled 8% after rising more than 11% last week. The automaker's half-yearly profit rose 4% while sales remained little changed.

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