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Asia Falters Sharply Tuesday

Markets in Asia were almost uniformly negative Tuesday, following general weakness on North American shores.

The Nikkei 225 plummeted 1,480.73 points, or 2.1%, to 68,256.96.

In Hong Kong, the Hang Seng index dropped 119.43 points, or 0.5%, to 23,496.89.

The downward pressure began in Asia-Pacific markets, after South Korea’s Kospi dropped nearly 5% following a nearly 7% drop in Samsung Electronics. Concerns about spending and demand overshadowed a massive increase in the company’s second-quarter operating profit.

In other markets;

In Shanghai, the CSI index retreated 49.74 points, or 1%, to 4,792.26.

In Korea, the Kospi index declined 395.02 points, or 4.9%, to 7,656.31

In Singapore, the Straits Times 50 index added 82.43 points, or 1.6%, to 5,342.24

The Taiex index in Taiwan crumbled 1,077.28 points, or 2.3%, to 45,479.11.

In New Zealand, the NZX 50 docked 0.3 points to 13,762.79.

In Australia, the ASX fell 27.05 points, or 0.3% to 8,803.92.