Most Asian-Pacific markets fell Monday as negotiations to avert the "fiscal cliff" in the U.S. remained deadlocked. Australia's S&P/ASX 200 declined 0.5%. Hong Kong's Hang Seng Index closed fractionally lower. India's Sensex was down 0.1% at midafternoon. China's Shanghai Composite bucked the trend, closing up 1.6%. Markets in Japan, South Korea, Thailand and Taiwan were closed for New Year's Eve.

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