Asian markets suffered major losses Tuesday, led down by Shanghai and Hong Kong, where banking and property shares fronted declines.
Japan's Nikkei 225 index dropped 308.06, or 2.1 percent, to 14,181.38. Hong Kong's Hang Seng Index slipped 4.2 percent at 23,375.52.
Exporters took a hit, with Canon Inc. dropping 4.4 percent and Toyota Motor Corp. sliding 2.9 percent.
Toyota Motor Corp. said Tuesday it plans to start producing a hybrid Camry at a facility in the suburbs of Melbourne within 18 months, targeting annual output of around 10,000 vehicles. Shares of Toyota ended 0.2% lower and Honda Motor Co. fell 0.8%.
Shares of Softbank climbed 1.1% after firming up the release date for Apple's iPhone in Japan. The wireless operator says it expects to begin selling the iPhone in Japan on July 11.
The benchmark Shanghai Composite Index fell 257.34 points, or 7.7 per cent, to 3,072.33.
Elsewhere:
South Korea's Kospi fell 1.9%.
Australia's S&P/ASX 200 fell 2.8%.
Taiwan's Weighted Price Index retreated 2.5%.
New Zealand's NZX-50 added 0.3%.
Singapore's Straits Times Index was down 1.5%.
Malaysia's KLSE Composite ended flat.
Thailand's SET index fell 1.65%.
Indonesia's JSX Composite fell 1.5%.
India's Sensex was off 2.3%.
with files from other wire services
