Asian shares closed lower on Tuesday, although losses in the region were slighter than the declines seen stateside in the last session amid a drop in tech stocks and trade-related worries.
The Nikkei 225 Index lost 96.29 points, or 0.5%, to 21,292.29
Tech shares traded lower as semiconductor-related plays underperformed the broader market, with Tokyo Electron sliding 1.3%. Renesas Electron tumbled 9.7% on news that major shareholder Innovation Network Corp of Japan would reduce its stake in the company.
Against the yen, the U.S. dollar drifted higher but remained a touch below the 106 level. The dollar last traded at 105.99 after slipping against the safe-haven Japanese currency for the third straight session on Monday.
In Hong Kong, the Hang Sang index returned from a long weekend to gain 86.72 points, or 0.3%, to 30,180.10.
Tech stocks, which were downbeat in the morning, were mixed an hour ahead of the market close, with Tencent up 0.4%.
In Korea, markets were slightly off as technology stocks weighed on the broader index, taking cues from the declines on Wall Street. Losses were also seen in energy-related stocks and brokerages, although automakers and cosmetics names advanced.
In Australia, markets settled a bit, as losses in industrials were offset by gains in the energy and materials sub-indexes. Gold producers also climbed.
The softer investor sentiment in Asia came after major U.S. stock indexes moved into correction territory in the overnight session.
In corporate news, Australian oil and gas company Santos announced Tuesday that it had received a $10.4-billion takeover proposal from Harbour Energy. Santos stock closed up 16.2%
On the economic front, the Reserve Bank of Australia kept the cash rate steady at 1.5% on Tuesday, as was widely expected by markets.
Elsewhere, South Korea's SK Innovation finished the day down 1.4%. The company reportedly said on Monday it intended to sell shares in its SK Lubricants unit as part of a planned initial public offering.
Meanwhile, shares of Kumho Tire surged 29.9% after news that the plan to sell a majority stake in the company to Qingdao Doublestar was approved by union workers on Monday.
In other markets
The CSI 300 fell 24.44 points, or 0.6%, to 3,862.48,
In Taiwan, the Taiex dropped 66.74 points, or 0.6%, to 10,821.53
In Korea, the Kospi slid 1.73 points, or 0.1%, to 2,442.43
In Singapore, the Straits Times Index acquired 18.61 points, or 0.5%, to 3,412.15
In New Zealand, the NZD 50 Index gained 10.87 points, or 0.1%, to 8,329.93
In Australia, the ASX 200 Index dropped 7.44 points, or 0.1%, to 5,751.92
