Asia-Pacific markets tumbled on Tuesday in a volatile session, after sharp losses seen overnight on Wall Street as investors grappled with the fallout of failed banks in the U. S., including Silicon Valley Bank.
In Japan, the Topix led losses and fell 2.67% to close 1,947.54, and the Nikkei 225 ended 2.2% lower at 27,222.04 as shares of Softbank Group fell as much as 3.5% to its lowest point since October last year in early trade.
South Korea’s Kospi also fell by 2.56%, ending at 2,348.97, and the Kosdaq fell 3.91% to close at 758.1. Hong Kong’s Hang Seng index fell 2.5%, while the Hang Seng Tech index shed 2.81%. In mainland China, the Shanghai Composite shed 0.72% to end at 3,245.31 and the Shenzhen Component fell 0.77% to close at 11,416.57…. (Read more)