Sydney - Australian stocks slid Monday as fears of a worldwide recession grew.

The ASX 200 lost 60 points, or 1.5 per cent, to 3,809.

Losses were stemmed by rising values in the mining sector. Market leader BHP Billiton was up 1.5 per cent as bargain hunters moved on a counter considered oversold. Gold miners also did better.

The local currency was trading at a five-year low. It has lost 37 per cent in value against the US dollar in three months.

The Australian dollar was trading at 61 US cents, up from the low of 60 cents on Friday.

Taipei - Taiwan's benchmark s

Manila - The Philippine Stock Exchange halted trading near the end of the trading day Monday after share prices fell more than 10 per cent.

Trading was stopped when the 30-share composite index fell 10.03 per cent, triggering an automatic break that was instituted last month amid volatility in the market.

The suspension was called 37 minutes before the end of Monday's session at noon (0400 GMT). Trading resumed 10 minutes later with the main index continuing to fall, closing 239.66 points, or 12.27 per cent, lower at 1,713.83.

Tokyo - Tokyo's stock market opened Monday morning with light trading amidst a nervous mood among investors.

The Nikkei Index dropped 19.27 points in the first 18 minutes, or 0.25 per cent, to 7,629.81 points.

That was up from the opening figure, which had sunk beneath 7,500 - the lowest point since Japan's own speculation bubble burst in the early 1990s.

Investors were bracing for the release of new projections this week from Sony and other companies that will reduce expectations.

Sydney - Australian stocks tumbled at the bell Monday following heavy losses last week.

The ASX 200 lost 90 points, or 2.3 per cent, in early trading to 3,689.

Falling commodity prices and fears of a global recession took the local currency to a five-year low.

The Australian dollar was trading at 61 US cents - up from the low of 60 cents on Friday.