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Asian Shares Fall; Europe Shares Higher

Asian stocks closed lower Monday, with Japanese shares falling to a two-month low on continued European debt concerns and a stronger yen.

Updated from 4:26 a.m. EST

NEW YORK (

TheStreet

) -- Asian stocks closed lower Monday, with Japanese shares falling to a two-month low on continued European debt concerns and a stronger yen.

The Nikkei 225 stock average in Tokyo fell 1.1% to 9,951.82, its first finish under 10,000 since Dec. 10. The Hang Seng index in Hong Kong dipped 0.6%.

In China, Shanghai's benchmark index fell slightly by 0.3% on light volume ahead of a weeklong holiday. Like the rest of Asia, China pondered how debt-laden European countries such as Greece, Spain and Portugal would fund their deficits and how Wall Street would react.

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At 5:50 a.m., European shares were higher, with stocks in London up 0.3% and Frankfurt shares gaining 0.4%. The European bourses have come off their highs of the day.

-- Reported by Joseph Woelfel in New York.

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