Japan’s Nikkei 225 fell at its fastest pace in more than three months on Monday, hit by a slide in the dollar against the yen and high oil prices.

Investors nervous about high Japanese stock valuations used the excuse to sell off a broad range of shares. The Nikkei responded with a 2.8 per cent plunge to 16,914.40. The Topix dropped 2.6 per cent to 1,710.76.