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Oil Prices Take Toll on Asia

Equities in the Asia-Pacific region were down mostly, in some cases, sharply, with traders worried about the impact of rising oil prices on inflation.

In Japan, the Nikkei 225 tumbled 1,889.70 points, or 2.9%, to 64,325.64.

In Hong Kong, the Hang Seng dipped 18.52 points, or 0.1%, to 25,311.21.

In other markets;

In Shanghai, the CSI index slipped 63.48 points, or 1.4%, to 4,547.96.

In Korea, the Kospi Index dumped 273.08 points, or 4%, to 6,566.72

In Singapore, the Straits Times index gained 33.74 points, or 0.6%, to 5,744.11.

In Taiwan, the Taiex index withered 784 points, or 1.7%, to 46,174,72

In New Zealand, the NZX 50 restocked 143.67 points, or 1%, to 13,930.57

In Australia, the ASX 200 ditched 88.28 points, or 1%. to 8,978.42.