Asian shares lost ground on Monday, on European and US debt concerns. So Japan 's Nikkei 225 index lost 0.3%; Hong Kong 's Hang Seng index fell 1.4%; China 's Shanghai Composite index shed 0.1%; South Korea 's Kospi dropped 1%; and Singapore 's Strait Times index slipped 1.2%.Further hitting sentiment was, the Chinese Vice Premier reportedly said he was concerned about the outlook for the global economy. And data showed that Japan swung back to a trade deficit in October 2011, at 3.5 billion dollars. Also, Singapore 's trade ministry said its economy will grow between 1% and 3% in 2012.European markets took a much bigger fall, pressured by euro-zone debt worries and concerns over a possible collapse in talks to cut the US deficit ahead of Wednesday's deadline. Key indices, London 's FTSE-100, France 's CAC-40 and Germany 's DAX lost between 2.1% and 2.6% in intra-day trade on Monday.