Asian stocks tumble, China benchmark ends 0.81% lower

Asian stocks tumbled on Tuesday as risk aversion intensified ahead of upcoming Nvidia earnings and a slew of U.S. economic data, including the delayed jobs report, which will be released almost seven weeks behind schedule due to the government shutdown.

The dollar strengthened in the wake of increased uncertainty surrounding interest rates and tech valuations. Oil prices fell after loadings resumed at a key Russian port.

Gold fell about 1 percent, extending losses for a fourth straight session, pressured by dollar strength and diminished expectations of a U.S. interest rate cut next month.

Chinese and Hong Kong markets fell as diplomatic tensions between China and Japan deepened. China's Shanghai Composite index dropped 0.81 percent to 3,939.81, with energy stocks pacing the decliners.

 

Hong Kong's Hang Seng index plunged 1.72 percent to 25,930.03, dragged down by tech stocks on AI valuation concerns.

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