South Korean stocks fell 2%, leading losses in the wider Asia-Pacific region as investors parse trade data coming out of China, as well as a rate hike by the Reserve Bank of Australia.
In Japan, the Nikkei 225 backpedaled 436.66 points, or 1.3%, to 32,271.82.
In Hong Kong, the Hang Seng Index dumped 296.43 points, or 1.7%, to 17,670.16.
Korean markets sagged, easing off Monday’s gains when the index posted its best session since late March 2020 after the country re-imposed a ban on short selling.
Australia markets pointed downward, after the Australian central bank raised its key policy rate by 25 basis points to 4.35%, in line with expectations.
In other markets
In Shanghai, the CSI 300 dropped 12.85 points, or 0.4%, to 3,619.76.
In Taiwan, the Taiex gained 35.59 points, or 0.2%, to 16,684.95.
In Korea, the Kospi index fell 58.41 points, or 2.3%, to 2,443.96.
In Singapore, the Straits Times Index lost 6.72 points, or 0.2%, to 3,173.81.
In New Zealand, the NZX 50 slumped 37.36 points, or 0.3%, to 11,223.86.
In Australia, the ASX 200 retreated 20.31 points, or 0.3%, to 6,977.07.