Asia shares hit after US 'super committee' fails to reach debt deal

Japan's main index fell 1% on opening before clawing back some of the losses, while Hong Kong's Hang Seng Index lost 1% and Australia's S&P/ASX 200 declined 0.7%. US stock indexes lost about 2% on Monday as reports emerged that a so-called debt 'super-committee' was not able to reach agreement. The Dow Jones lost 250 points to 11,547. Made up of both Republicans and Democrats, the committee was tasked with cutting the country's budget deficit by $1.2trn (£762bn). US debt has now climbed above $15trn. The breakdown in talks triggers $1.2trn in automatic spending cuts that will go in...