Hong Kong Leads Losses in Asia

Most Asia-Pacific markets fell on Tuesday after heavy losses overnight on Wall Street that saw the tech-heavy NASDAQ Composite dropping more than 4%.

In Japan, the Nikkei 225 decreased 152.24 points, or 0.6%, to 26,167.10. Shares of Japanese conglomerate SoftBank Group fell 1.8%

The Japanese yen traded at 130.2 per U.S. dollar, stronger than levels above 130.5 seen against the greenback yesterday.

In Hong Kong, the Hang Seng Index returned from a long weekend to hand over 368.27 points, or 1.8%, to 19,633.69.

Hong Kong-listed shares of Chinese tech firms dropped, with Tencent declining 2.3% while Alibaba shed 4.8% and NetEase fell 1.9%.

South Korea’s Kakao lost 0.59% while Krafton dropped 2.6%.

The Australian dollar was at $0.6963, struggling to recover after last week’s drop from above $0.72.

In other markets

In Shanghai, the CSI 300 index eked up 42.43 points, or 1.1%, to 3,919.87.

In Taiwan, the Taiex forged ahead 12.78 points, or 0.1%, to 16,061.70.

In Singapore, the Straits Times Index dropped 40.88 points, or 1.3%, to 3,234.19

In Korea, the Kospi index lost 14.25 points, or 0.6%, to 2,596.56

In New Zealand, the NZX 50 forfeited 152.54 points, or 1.3%, to 11,229.45.

In Australia, the ASX 200 slumped 69.5 points, or 1%, to 7,051.16.