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TOKYO -- Asian stock markets skidded lower Monday, following Friday's ugly performance on Wall Street, as investors remained concerned about the uncertainty surrounding the U.S. presidential election.

In Tokyo, the

Nikkei 225

closed down 323.9 points, or 2.2%, at 14,664.6 and the

Topix

index, which includes all shares listed on the

Tokyo Stock Exchange

, fell 21.3, or 1.5%, to 1395.7.

Besides the distraction of the U.S. election, Japanese investors had to contend with their own political uncertainty, as Prime Minister

Mori

tried to avoid a possible vote of no confidence and increasing calls for him to resign. Many in opposition and even some of Mori's own ruling party are concerned about the slow recovery and reform of the economy.

Such an atmosphere did little for volatile technology shares, as

NEC

(NIPNY)

dropped 85 yen, or 3.7%, to 2,190 ($20.27) and

Fujitsu

(FJTSY)

tanked 80 yen, or 4%, to 1,935.

Telcos also moved lower, as wireless operator

NTT DoCoMo

(NTDMY)

fell 40,000 yen, or 1.4%, to 2.86 million and

Nippon Telegraph & Telephone

(NTT)

closed down 20,000 yen, or 2.1%, at 920,000.

The dollar traded at 108.01 yen, up from 107.32 yen Friday.

Elsewhere, Hong Kong's

Hang Seng

index also ended in the red, falling 573.7, or 3.7%, to 14,815.7. Dragging it down were

China Mobile

(CHL) - Get Report

, which dropped HK$2.45, or 4.8%, to 48.30 ($6.19), and

HSBC

(HBC)

, which shed HK$4.00, or 3.5%, to 111.00.

South Korea's

Kospi

index tanked 26.2, or 4.6%, to close at 538.9. Contributing to the losses were

Korea Electric Power

(KEP) - Get Report

, which fell 850 won, or 3%, to 27,250 ($23.96), and

SK Telecom

(SKM) - Get Report

, which slid 13,000 won, or 4.8%, to 259,000.

Taiwan's

TWSE

index fell 295.2 points, or 4.9%, to 5793.5, as heavyweight

Taiwan Semiconductor

(TSM) - Get Report

plummeted 6.6% to TWD106.50 ($3.32).