APAC equities a sea of red

All the major Asian indices had major losses overnight, as the sell-off in global equities continues
The Shanghai Composite fell as much as 8.50 %, while the Hang Seng is down more than 4 %
S&P 500 and DJIA futures have seen a 2.50 % drop and WTI Oil broke sub-$40.00, almost reaching the $39.00 level
Traders are now looking forward to the EU cash equity open at 08:00 BST; sentiment is bad and the risk-off theme is likely to persist