Mounting concerns about the global economic landscape sent Asian shares on a nosedive Tuesday, mirroring a negative trend on Wall Street.
The Nikkei 225 slumped 5.4 percent to close the day at 16,085, putting in the worst performance of all Asian indices on a day when several exchanges were closed for the Chinese New Year holiday. Sydney’s S&P/ASX 200 fell 2.9 percent to end at 4,832.
Shiseido tanked 8.5 percent to end at 2,133 yen. Earlier in the day, the beauty giant said it expects its profits for the current year to fall as it makes investments. Fast Retailing shed 6.3 percent to end at 32,870 yen. Isetan Mitsukoshi lost 7.3 percent to end at 1,327 yen.