Asian stock markets suffered heavy losses Wednesday, prompted by a big sell-off on Wall Street overnight on concerns that the U.S. economy could be in recession.
In Hong Kong, the benchmark Hang Seng index plunged 1,339.24 points, or 5.4 percent, to close the half-day session at 23,469.46 while in Tokyo, the Nikkei 225 average finished 4.7 percent lower at 13,099.24.
Stock markets in South Korea, China, Taiwan and Vietnam are closed Wednesday through Friday for Lunar New Year holidays, while Hong Kong, Singaporean, Malaysian and Indonesian markets are closed Thursday and Friday.
Shares of Mitsui Sumitomo Insurance declined 3.1%, while Honda Motor Co. skidded 3.6%.
Shares of Mazda Motor Co. dropped 7.2%, and later it announced a weaker-than-expected 5.8% decline in quarterly operating profit on higher sales costs, and left its annual forecast unchanged.
Elsewhere:
Singapore's Straits Times index sank 3.5% to 2,931.92.
India's Sensitive index, or Sensex, dropped 3.2% to 18,067.99.
Thailand's market slid 2.4 percent.
Australia's S&P/ASX 200 shed 3.2% at 5,609.40.
