Shanghai stocks plunged more than 4 percent on fears of weak bank lending,Shanghai Composite Index down 4.6 percent down 131.56 points to 2729.12.Japan's Nikkei stock market trading lower on Monday as a stronger yen led Japanese exporters of cars and electronics shares lower.Honda Motor down 1.7 percent ,Canon down 3 percent.Japanese Nikkei average down 0.35 down 36.95 to 10497.19.Seoul’s Kospi down 1.45 percent down 23.38 points to 1,584.56.As Shanghai markets plunged dragging other Asian markets along with it,Hang Seng Index down 1.98 percent down 397.15 points to 19701.47.S&P/ASX 200 index of Australian shares down 0.2 percent.Crude oil trading down 0.18 percent at $72.57 per barrel.Gold was trading at $959.