Hong Kong’s Hang Seng Index closed 0.6% lower at 25231.61, weighed by Chinese oil majors that retreated again after it clawed back heavy losses from Monday’s crude-price crash in the previous session. CNOOC fell 5.9%, PetroChina dropped 2.2% and Sinopec shed 0.8%. Mainland telecommunications operators also broadly fell.
Japan’s Nikkei Stock Average ended at a fresh 14-month low, with electronics stocks falling sharply, weighed by concerns about economic disruptions caused by the coronavirus epidemic. The Nikkei fell 2.3% to 19416.06, its lowest level since Dec. 26, 2018.
South Korean stocks slumped to a four-year closing low on a selloff driven by persistent fears about the economic impact of the coronavirus. The benchmark Kospi closed 2.8% lower at 1908.27, the lowest since Feb. 17, 2016. Tech, tourism and airline stocks lead the declines.
Indian shares ended higher as the market recouped some of Monday’s losses that came as global crude-oil prices collapsed. The benchmark Sensex rose 0.2% to close at 35697.40. Auto makers and banks, among the hardest hit in the previous session, led gains.