Indices in Asia failed to start on a stronger note on Tuesday’s opening bell after a depressing finish from U.S. markets on the previous day.
The Japanese benchmark Nikkei 225 index posted most declines, falling as low as 1.04 percent or 223.21 points. It was somehow weighed down by Wall Street markets. Nikkei’s immense drop was also driven by the declines of other major Asian indices on the same day when an ongoing political scandal has undermined a potential win for Japanese Prime Minister Shinzo Abe. Meanwhile, the Topix index was 0.8 percent down on Tuesday after two of its major sectors slumped on the red.
The South Korean benchmark Kospi index inched down by 0.5 percent on early Tuesday. Technology companies in the nation were down in shares, also brought by a softer finish from U.S. markets. However, declines were somehow limited by a good performance from steelmakers. According to Yonhap News Agency, the country is currently requesting to exempted from U.S. President Donald Trump’s announced steel tariffs.
In the Down Under, the ASX 200 index was also marginally lower by 0.56 percent on the day, with material stocks and gold producing companies as its leading decliners.
Across Wall Street, the Nasdaq composite edged down more than 1.84 percent on the previous day. The index has been posting its worst days since February 8 after Facebook lost about 6.83 percent in shares amid the scandal that involved company Cambridge Analytica.