SINGAPORE — Shares in Asia-Pacific largely fell in Tuesday trade following overnight losses on Wall Street, with the tech-heavy Nasdaq Composite falling more than 2%.
In Japan, the Nikkei 225 dropped 1.85%, as shares of Fast Retailing fell 6.18%. The Topix index also declined 0.96%. Earlier, the Nikkei had dropped more than 3% and briefly entered correction territory, declining more than 10% off its mid-September high.
South Korea’s Kospi shed 1.44%. The Hang Seng index in Hong Kong bucked the overall trend regionally, rising 0.17%.
Shares in Australia also slipped, with the S&P/ASX 200 down 0.46%. The Reserve Bank of Australia on Tuesday announced its decision to leave interest rates unchanged.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.47% lower.
Markets in mainland China remain closed on Tuesday for the holidays.
Oil rises
Overnight stateside, the S&P 500 dropped 1.3% to 4,300.46 while the Dow Jones Industrial Average fell 323.54 points to 34,002.92. The Nasdaq Composite slipped 2.14% to around 14,255.49.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.942 following a recent decline from above 94.
The Japanese yen traded at 111.10 per dollar, stronger than levels above 111.1 seen against the greenback yesterday. The Australian dollar changed hands at $0.727, largely holding on to gains after its rise from below $0.724 late last week.
