Shares in the Asia-Pacific were mixed on Tuesday, while Taiwan’s benchmark index fell on its return to trade after a holiday, as investors weighed the impact of new U.S. rules on chipmaker TSMC.
The Nikkei 225 tumbled 714.86 points, or 2.6%, to 26,401.25.
Authorities in Japan may not step in even if the yen weakens past 145.89 — the level at which they intervened in September.
Japan’s yen has weakened sharply as it keeps interest rates extremely low, while the U.S. Fed aggressively hikes rates. But authorities have signaled a willingness to stick with loose monetary policy. Prime Minister Fumio Kishida told the Financial Times that the Bank of Japan should maintain its policy until wages rise.
In Hong Kong, the Hang Seng lost 384.30 points, or 2.2%, to 16,832.26.
The Australian dollar has been facing “something of a perfect storm” since the start of the week.
The currency, which is highly sensitive to China’s economic fortunes, has lost ground following China’s weak purchasing managers’ index data and new U.S. rules on chip exports to China. It last lost about 0.6% and is trading at $0.6266.
In other markets
In Shanghai, the CSI 300 inched up 6.75 points, or 0.2%, to 3,727.69
In Singapore, the Straits Times Index dipped 2.47 points, or 0.2%, to 3,145.81.
In Taiwan, the Taiex dumped 596.25 points, or 4.4%, to 13,106.03
In Australia, the ASX 200 lost 22.77 points, or 0.3%, to 6,644.99.
In New Zealand, the NZX 50 gained 38.23 points, or 0.4%, to 10,956.71.
