Global Markets: Asian shares ease

Asian credit markets were a touch softer, with the spread on the iTraxx Asia ex-Japan investment-grade index widening by 2 basis points but still near a 14-month low. Yields on 10-year Spanish bonds rose back above 6 percent on Monday amid uncertainty over if and when Madrid will formally seek financial aid needed to trigger European Central Bank bond buying.

The ECB could cut its main interest rate, put its deposit rate into negative territory and offer banks a new round of ultra-cheap funding, policymaker Luc Coene said on Monday, adding Spain's borrowing costs would soar again without support.

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