in china, the shanghai compos sat lost 2% to hit the lowest close in two weeks. energy related shares were sold as commodity prices dropped. hong kong is back from holiday and the index plunged 3% to the lowest lows in more than two years. wide range of shares sold over the slow down in china. sydney's index plummeted 3.8% hilting a t year low, and seoul was closed for a holiday. markets there reopen on wednesday. >> china ease economic slow town sends ripples in corporate japan and medium size shipper has applied for protection from creditors, carries debt of $1 billion. >> the sharp decline in china's steel production put pressure on iron ore shipmes, producing a blow to our business. >> shippers have been trying to rebuild its business in various ways including selling off its ships, but they gave up the attempt because its high level of past investment proved to be a burden on the company. they are a group firm of ja pane's leading shipping company, osk line, and business mainly involves transporting coal and iron ore overseas, and it's reported losses since