Japan Pares Losses

Shares in Asia-Pacific largely fell on Tuesday following overnight losses on Wall Street, with the tech-heavy NASDAQ Composite falling more than 2%.

In Japan, the Nikkei 225 fell 622.77 points, or 2.2%, to close at 27,822.12, as shares of Fast Retailing fell 6.9%.

The Japanese yen traded at 111.17 per U.S. dollar, stronger than levels above 111.1 seen against the greenback yesterday.

In Hong Kong, the Hang Seng regained 67.78 or 0.3%, to 24,104.15.

Oil prices gained after the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed Monday to stick to an existing pact to raise oil output by 400,000 barrels per day in November.

Shares of oil companies in Asia-Pacific rose in Tuesday trade, with Beach Energy and Santos in Australia rising 0.7% and 2.54%, respectively. Japan’s Inpex rose 5.6% on the day while PetroChina shares in Hong Kong jumped 6.78% in afternoon trade.

Australian markets were lower as the Reserve Bank of Australia on Tuesday announced its decision to leave interest rates unchanged.
The Australian dollar changed hands at $0.7271, largely holding on to gains after its rise from below $0.724 late last week.

Markets in mainland China were closed for holiday.

In other markets

In Taiwan, the Taiex recovered 52.4 points, or 0.3%, to 16,460.75.

In Singapore, the Straits Times slid 21.53 points, or 0.7%, to 3,068.12

In New Zealand, the NZX 50 stepped backward 137.28 points, or 1%, to 13,199.99

In Australia, the ASX 200 fell 30.18 points, or 0.4%, at 7,248.36