Japan's Nikkei 225 drops 2% following Wall Street losses; RBA rate decision ahead
- Shares in Asia-Pacific declined in Tuesday morning trade, with Japan's Nikkei 225 falling about 2%.
- The Reserve Bank of Australia is set to announce its interest rate decision at around 11:30 a.m. HK/SIN on Tuesday.
- Markets in mainland China remain closed on Tuesday for the holidays.
SINGAPORE — Shares in Asia-Pacific slipped 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 declined 2.25%, with shares of conglomerate Fast Retailing falling 3.6%. South Korea's Kospi shed 0.95%.
Shares in Australia also slipped, with the S&P/ASX 200 down 0.32%. The Reserve Bank of Australia is set to announce its interest rate decision at around 11:30 a.m. HK/SIN on Tuesday.
MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.18% lower.
Markets in mainland China remain closed on Tuesday for the holidays.
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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.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.824 following a recent decline from above 94.
The Japanese yen traded at 110.97 per dollar, stronger than levels above 111.1 seen against the greenback yesterday. The Australian dollar changed hands at $0.7289, largely holding on to gains after its rise from below $0.724 late last week.
Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.18% to $81.41 per barrel. U.S. crude futures gained 0.13% to $77.72 per barrel.
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