MW: Asian markets slide lower, led by Korean shares
By V. Phani Kumar
HONG KONG (MarketWatch) -- Major Asian markets were mostly lower Tuesday after inflation worries pulled Wall Street stocks way off their highs overnight. South Korean stocks led the declines after the Bank of Korea's quarter-point rate increase, while Hong Kong shares fluctuated between gains and losses in volatile trading. South Korea's Kospi fell 0.9%, Japan's Nikkei Stock Average (JP:NI225 9,809, -18.14, -0.18%) ended the morning session 0.2% lower, Australia's S&P/ASX 200 (AU:XJO 4,700, +12.23, +0.26%) slipped 0.1%, China's Shanghai Composite (CN:SHCOMP 2,912, -102.05, -3.39%) shed 0.4% and Hong Kong's Hang Seng Index (HK:HANGSENG 24,013, -14.31, -0.06%) was down 0.1% after moving in either direction. Energy sector shares were broadly lower across the region after crude-oil prices fell overnight, with Inpex Corp. (JP:1605 433,000, +1,500, +0.35%) (IPXHF 0.00, 0.00, 0.00%) dropping 2.5% in Tokyo and Cnooc Ltd. (HK:883 17.02, -0.14, -0.82%) (CEO 220.92, -2.44, -1.09%) shedding 0.9% in Hong Kong. In Seoul, financials dropped sharply, with KB Financial Group (KB 46.01, +0.94, +2.09%) falling 1.9%.
