Asia-Pacific market share slips as tensions between Russia and Ukraine escalate

From Hong Kong Hang Seng Index led the drop in the region, falling 2.69% to close at 23,520.

Hong Kong-listed shares of Alibaba 3.05% off after one Bloomberg’s report that Chinese authorities have asked banks and state-owned companies to report exposure to Ant Group.

Other Chinese tech stocks listed in Hong Kong also fell, with Tencent soak 0.13% and Meituan dropped 5.1%. The Hang Seng Tech Index fell 1.89% to 5,226.70.

The Shanghai composite in mainland China closed 0.96% lower at 3,457.15 and Shenzhen Ingredients down 1,292 percent to 13,297.11.

The Nikkei 225 in Japan also fell significantly, closing 1.71% lower at 26,449.61 while the Topix index fell 1.55% to 1,881.08. In Korea, Kospi down 1.35% on the day to 2,706.79.

of Australia S&P / ASX 200 down 1%, ending the trading day at 7,161.30.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.53%.

Investors continue to monitor geopolitical tensions, after the President of Russia Vladimir Putin ordered forces to enter two breakaway regions in eastern Ukrainefollowing an announcement on Monday that he would recognize their independence.

After that development, the White House responded, with the President of the United States Joe Biden order sanctions against breakaway regions of Ukraine.

U.S. markets were closed for a holiday on Monday, though moves in stock futures in the states suggest Wall Street will lose money before Tuesday’s open.

Futures tied to the Dow Jones Industrial Average fell 425 points, or 1.25%. S&P 500 futures fell 1.61% while Nasdaq-100 futures fell 2.19%.

The Japanese yen was trading at 114.80 per dollar, largely holding up from the levels above 115.6 seen against the greenback last week. The Australian dollar was $0.7202, down from the level above $0.72 seen recently.