Asian markets retreated Wednesday, with worries about high crude-oil prices and their inflationary impact dragging down shares of manufacturing and real estate firms such as Fanuc and Mitsui Fudosan Co. in Japan and Cheung Kong (Holdings) in Hong Kong.
In Tokyo, the Nikkei 225 index fell 3.25 percent to 13,310.37. Shares in chemical companies and rubber makers, which rely on petrochemical compounds in their manufacturing, were among the hardest hit. Shin-Etsu Chemical dropped 5.3 percent while Yokohama Rubber shed 3.1 percent.
Real estate and manufacturing stocks fell across the region on worries that rising commodity prices could dent corporate earnings. Shares of industrial robot maker Fanuc gave up 5.5%, Mitsui Fudosan sank 7.9% and Sumitomo Realty tumbled 11% in Tokyo.
In Hong Kong, the Hang Seng Index tumbled 532.59 points, or 2.21 percent, to 23,590.58.
Elsewhere:
Australia's S&P/ASX 200 fell 2.2% to 5,496.50.
China's Shanghai Composite fell 2.1% to 4,567.03.
New Zealand's NZX 50 index declined 0.4% to 3,595.91.
South Korea's Kospi dropped 1.9% to 1,687.91.
Taiwan's Weighted index gave up 1.6% at 7,894.47.
Singapore's Straits Times index dropped 1.9% to 3,040.13.
with files from other wire services
