SINGAPORE — Shares in Asia-Pacific fell in Tuesday morning trade following overnight losses on Wall Street, with the tech-heavy Nasdaq Composite falling more than 2%.
In Japan, the Nikkei 225 dropped 3.21%, as shares of Fast Retailing fell 6.87%. The Topix index also declined 2.05%. The Tuesday declines left the Nikkei in correction territory, more than 10% off its mid-September high.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.95% lower.
Markets in mainland China remain closed on Tuesday for the holidays.
Overnight stateside, the S&P 500 dropped 1.3% to 4,300.46 while the Dow Jones Industrial Average fell 323.54 points to 34,002.92. The Nasdaq Composite slipped 2.14% to around 14,255.49.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.941 following a recent decline from above 94.
The Japanese yen traded at 111.06 per dollar, stronger than levels above 111.1 seen against the greenback yesterday. The Australian dollar changed hands at $0.7266, largely holding on to gains after its rise from below $0.724 late last week.