South Korea’s Kospi dropped about 2%. In Japan, the Nikkei 225 slipped 0.95% while the Topix index was 0.7% lower. Minutes from the Bank of Japan’s December monetary policy meeting showed members agreeing that the central bank would “not hesitate to take additional easing measures if necessary” as it monitors the impact of Covid-19.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.65%. Markets in Australia and India are closed on Tuesday for holidays. Shares of Apple suppliers in Asia were mixed in Tuesday trade after the Cupertino-based tech giant’s stock stateside rose to an all-time high on Monday. In Japan, Taiyo Yuden shares gained 1.82% while Murata Manufacturing advanced 1.32%. In Taiwan, shares of Hon Hai Precision Industry — better known as Foxconn — fell 1.63% while Taiwan Semiconductor Manufacturing Company dropped 2.69%. LG Display’s stock in South Korea edged 0.21% higher.
Overnight on Wall Street, the S&P 500 rose 0.4% to a new record close of 3,855.36. The Nasdaq Composite also reached a fresh closing high, advancing 0.7% to 13,635.99. The Dow Jones Industrial Average lagged as it dipped 36.98 points to end its trading day at 30,960.