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Asia Falls as Investors Weigh SVB Concerns

Asia-Pacific markets tumbled on Tuesday in a volatile session, after sharp losses seen overnight on Wall Street as investors grappled with the fallout of failed banks in the U.S., including Silicon Valley Bank.

The Nikkei 225 in Japan collapsed 610.92 points, or 2.2%, to 27,222.04, as shares of Softbank Group fell as much as 3.5% to its lowest point since October last year in early trade.

In Hong Kong, the Hang Seng Index sagged 448.01 points, or 2.3%, to 19,247.96.

Australian indexes slid, largely led by losses in the banking sector.

Australia’s consumer sentiment remained unchanged in February, at a 30-year low of 78.5.

In other markets

In China, the CSI 300 dropped 23.99 points, or 0.6%, to 3,984.70.

In Singapore, the Straits Times let go of 2.62 points, or 0.1%, to 3,129.75.

In Taiwan, the Taiex tumbled 200.07 points, or 1.3%, to 15,360.42.

In Korea, the Kospi subtracted 61.63 points, or 2.6%, to 2,348.97.

In New Zealand, the NZX 50 lost 77.43 points, or 0.7%, to 11,595.47.

In Australia, the ASX 200 subsided 99.96 points, or 1.4%, to 7,008.88.