Hong Kong's Hang Seng index briefly falls 3%; oil slides nearly 3%

SINGAPORE — Asia-Pacific markets fell sharply on Monday following a sell-off on Wall Street on Friday.

The Hang Seng index briefly fell 3% as the Hang Seng Tech index dropped 3.36%. Shares of Chinese video company Bilibili plunged 4.89% in Hong Kong, and Alibaba's Hong Kong-listed shares fell 3.64%.

Mainland Chinese markets slid. The Shanghai composite declined 2.51% while the Shenzhen component was down 2.97%.

Japan's Nikkei 225's slipped nearly 2%, while the Topix declined 1.58%. Nissan's shares fell 4% following a Bloomberg report that Renault may sell part of its stake in the Japanese company in order to focus more on electric vehicles.

In South Korea, the Kospi slid 1.53% and the Kosdaq was down 2.08%.

Australia and New Zealand markets are closed on Monday for a holiday.

U.S. stock futures were down slightly after a sell-off Friday, when the Dow Jones Industrial average plunged more than 900 points. The S&P 500 closed down 2.8% at 4,271.78, for its worst day since March. The Nasdaq Composite slipped 2.6% to 12,839.29. 

On the economic data front, Singapore is set to report consumer price inflation.

Chinese telecommunications company ZTE and South Korea's Hyundai Motor will report earnings on Monday.

U.S. crude futures declined 2.85% on Monday to trade at $99.16 per barrel. International benchmark Brent crude futures slipped 2.84% to $103.62 per barrel.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 101.243.

The Japanese yen was last trading at 128.39 per dollar. It crossed the 129 level last week before strengthening slightly. The Australian dollar was at $0.7184, down slightly from last week.