SINGAPORE — Shares in China led losses in Asia-Pacific on Tuesday as investors continued to assess the economic outlook, with developments in the Russia-Ukraine warBeing monitored, as are expected Chinese economic data.

Hong Kong’s Hang Seng index led losses regionally on Tuesday, dropping 3.64% in morning trade — adding to losses after closing at its lowest since March 2016 on Monday.

China mainland saw the Shanghai Composite slip by 2%, while Shenzhen’s component fell 1.482%.

South Korea KospiLose 0.82% The australian population is 0.82%. S&P/ASX 200The decline was 0.87%

And elsewhere, Nikkei 225Japan’s Topix index grew 0.75% while Japan’s rose by 0.22%.

MSCI’s Asia-Pacific broadest index, which is not based on Japan, traded at 1.88% below its previous trading price.

The international benchmark saw oil prices drop on Tuesday morning in Asia trading hours. Brent crude futuresOil prices fell by 4.11%, to $102.51 per barrel. U.S. crude oil futures fell 4.07%, to $98.82 a barrel. Those moves came after oil prices sharply declined overnight.

Chinese economic data including retail sales and industrial production will be released at 10:00 a.m. HK/SIN Tuesday. This comes at a time when China faces its most serious economic crisis. worst Covid-19 outbreak since the height of the pandemic in 2020Major cities like Shenzhen are rushing to reduce business activity.

Since Russia invaded Ukraine in 2014, oil prices experienced wild swings. This raised concerns about supply disruptions on an already tight market. After Monday’s talks between the sides, negotiations between Russian and Ukrainian officials will resume on Tuesday.

Overnight stateside, the S&P 500 shed 0.74% to 4,173.11 while the tech-heavy Nasdaq Composite dropped 2.04% to 12,581.22. At 32,945.24, the Dow Jones Industrial Average was unchanged.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 99.106 — still higher than levels below 98 seen last week.

The Japanese yenToday’s dollar was traded at 118.42 after it had fallen below 118 yesterday. After falling below 118 against the greenback yesterday, it traded at 118.42 per dollar. Australian dollarFollowing yesterday’s fall from $0.728, the price was 0.7169.