Asian stock markets lost ground Tuesday, as traders eschewed tech shares on fears that higher oil prices and interest rates, and Persian Gulf uncertainty, will undercut high-flying issues.
Tokyo finished in the red, although Hong Kong and Shanghai inched into the green. Other regional exchanges, including Seoul and Taiwan, largely lost ground.
Brent oil traded up 0.2% to $91.02 a barrel during Asian market hours.
In Japan, the Nikkei 225 tracked downwards after five trading sessions in the green, finishing off 2.5% as AI- and semiconductor-related issues weakened. Overnight declines on Wall Street helped set the tone.
The benchmark Nikkei 225 fell 1759.52 to 67,460.73, as losing issues outnumbered gainers 141 to 80.
Leading the upside was shipping line Nippon Yusen, up 4.5%, while semiconductor components maker Taiyo Yuden declined 11.5%.
In market news, yields on benchmark 10-year Japanese government bonds rose to 2.945%, the highest level since October 1996, on inflation concerns.
In Hong Kong, the Hang Seng Index opened lower but inclined in the afternoon, closing up 0.1% on strength in property issues. A new Morgan Stanley study noted rising China housing sales in August, reported Investing.com.
The broad gauge Hang Seng rose 17.92 to 25,471.15, although losing issues outnumbered gainers 50 to 41. The Hang Seng TECH Index lost 0.9% on the day, while the Mainland Properties Index rose 0.6%.
Leading the upside was Wuxi Biologics, gaining 5.2%, while computer-maker Lenovo declined 5.1%.
On the mainland, the Shanghai Composite rose 0.2% to 3,990.30.
On the other regional exchanges, the S. Korean KOSPI fell 1.6%; the Taiwan TWSE declined 1.2%; the Australian ASX 200 was steady; the Singapore Straits Times Index fell 1.2%, and the Thai SET declined 0.3%. In late trading in Mumbai, the Sensex was down 0.6%.
The MSCI All Country Asia Pacific Index fell 0.9% on the day.