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Overnight Markets: Wall Street falls on caution ahead of earnings

by Himanshu Singh on Jan 14, 2014 at 03:35

In Asia, shares declined on Tuesday in morning trade following the biggest drop in US stocks since November amid concern over valuations.

The MSCI Asia Pacific Index lost 1.2% to 139 as of 10:55 a.m. in Tokyo. Japan’s Topix (TPX) index slumped 1.9% as the market reopened following a public holiday. Australia’s S&P/ASX 200 Index fell 1%, while New Zealand’s NZX 50 Index slid 0.7%.

South Korea’s Kospi index lost 0.1%. Singapore’s Straits Times Index dropped 0.4% and Taiwan’s Taiex index declined 0.3%.

Hong Kong’s Hang Seng Index lost 0.8% and the Hang Seng China Enterprises Index of mainland shares traded in the city fell 1%. China’s Shanghai Composite Index slipped 0.3%.

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