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Asian indices fell sharply early Tuesday, after stocks on Wall Street declined overnight following the relentless fall in oil prices.
Japan’s key Nikkei 225 index fell to a near three-week low early Tuesday. Trading sentiment was hit by a double whammy of declining oil prices and a stronger yen.
China’s Shanghai Composite index was flat in early trade, but held on to its highest level since December 2009. Founder Securities extended Monday’s losses to slump 4.8 percent after a court froze some of its assets. In Hong Kong, the Hang Seng index opened down 0.9 percent to a one-week low.
South Korean shares opened down at a two-and-a-half-week low of 1,889 as energy stocks were battered by the ongoing slide in energy prices. SK Innovation and S-Oil lost 1.2 and 3.3 percent in early trade.
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