Asia Bruised Overnight

Most Asia-Pacific markets came under pressure on Tuesday, following a selloff in tech stocks that weighed down major U.S. indexes overnight.

In Japan, the Nikkei 225 capsized 909.75 points, or 3.1%, to 28,606.59. The Japanese yen changed hands at 108.89 per U.S. dollar.

In Hong Kong, the Hang Seng index dumped 581.85 points, or 2%, to 28,013.81, as Chinese tech stocks declined. Shares of food delivery giant Meituan plunged about 6% as authorities in Beijing continued to clamp down on internet firms, while tech giant Tencent fell 2.3%.

In Australia, markets inched down ahead of the government’s budget announcement on Tuesday evening. The Australian dollar was roughly flat against the greenback at $0.7827.


In Shanghai, the CSI 300 regrouped 30.64 points, or 0.6%, to 5,023.06.

China said Tuesday consumer prices in April jumped 0.9% from a year ago, slightly missing the 1% forecast by analysts in a Reuters poll. However, the producer price index rose 6.8%, beating the 6.5% projected by analysts.

In addition to inflation data, China released results from its once-a-decade census that showed population growth on the mainland slowing to 0.53% over the past 10 years — down from 0.57% between 2000 and 2010.

In other markets

In Singapore, the Straits Times index slid 38.14 points, or 1.2%, to 3,144.27.

In Taiwan, the Taiex index tumbled 652.48 points, or 3.8%, to 16,583.13.

In Korea, the Kospi index let go of 39.87 points, or 1.2%, to 3,209.43

In New Zealand the NZX 50 dipped 19.82 points, or 0.2%, to 12,639.19

In Australia, the ASX 200 slumped 75.83 points, or 1.1%, to 7,096.97.