By Laura He, MarketWatch
HONG KONG (MarketWatch) — Japan’s stock market posted its worst one-day decline in nearly 10 months Tuesday, with other Asian markets also falling sharply, as the continuing slide in oil prices weighed on investors.
Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.39% ended down 3%, extending a four-day losing streak, for its biggest daily percentage fall since March. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 -0.03% settled 2.9% lower.
The decline followed a selloff in U.S. markets Monday, triggered by another plunge in oil prices, that left the Dow and the S&P 500 with their worst losses since October.
Among top underperformers on the Nikkei Tuesday, oil and gas producer Inpex Corporation /zigman2/quotes/206689846/delayed JP:1605 -0.23% /zigman2/quotes/207958170/delayed IPXHY -0.66% sank 5.8%, rival Japan Petroleum Exploration Co. /zigman2/quotes/201212147/delayed JP:1662 -1.14% /zigman2/quotes/202925532/delayed JPTXF -1.12% lost 4.8%, insurer Dai-Ichi Life Insurance Co. Ltd. /zigman2/quotes/208507587/delayed JP:8750 +0.89% /zigman2/quotes/200865545/delayed DCNSF +5.67% dropped 4.6% and console maker Nintendo Co. Ltd. gave up 4.2%.
The yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.4906% , meanwhile, rose against the dollar, with the greenback slipping to ¥119.14, from ¥120.33 a day earlier.
In other Asian markets, Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.09% finished down 1%, as energy names and casino operators suffered heavily. Among them, China’s largest offshore oil producer Cnooc Ltd. /zigman2/quotes/203421416/delayed HK:883 -0.33% /zigman2/quotes/204964401/composite CEO -1.55% retreated 3.2%, and Melco Crown Entertainment Ltd. extended recent losses to move 2.3% lower amid plans to delist the shares from the Hong Kong exchange.
Over on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31% closed up less than 1% after a choppy trading session. The index rallied 3.6% Monday.