Asia Stocks Mostly Lower After Dow Plunge

Shares in Asia-Pacific fell on Tuesday following an overnight tumble for stocks on Wall Street that saw the Dow Jones Industrial Average plunge more than 700 points.

In Japan, the Nikkei 225 dumped 264.58 points, or 1%, to 27,388.16, the Nikkei is down more than 10% from its February high as of today’s close.

The Japanese yen traded at 109.66 per U.S. dollar, stronger than levels above 110.5 seen against the greenback last week.

In Hong Kong, the Hang Seng plunged 230.53 points, or 0.8%, to 27,259.25.

The Australian dollar changed hands at $0.7321, off levels around $0.738 seen yesterday.


In Shanghai, the CSI 300 slid 4.49 points, or 0.1%, to 5,109.

On Tuesday, China kept unchanged its benchmark lending rate for corporate and household loans — the one-year Loan Prime Rate (LPR) held steady at 3.85% while the five-year LPR was also left at 4.65%. Majority of traders and analysts in a snap poll expected no change to both the one-year or five-year LPR.

In other markets

Markets in Singapore were shuttered for holiday.

The Kospi index in Korea dropped 11.34 points, or 0.4%, to 3,232.70.

In Taiwan, the Taiex index slumped 260.51 points, or 1.5%, to 17,528.74

In New Zealand, the NZX 50 dipped 1.25 points to 12,650.84

In Australia, the ASX 200 lost 33.75 points, or 0.5%, to 7,252.23.