Asian markets ended in red on Tuesday after US and European markets fell sharply overnight on concerns over slowing global growth and speculation over the Federal Reserve raising rates further in March. Japanese shares fell after a sell-off in the European banking sector triggered safe-haven bids for the yen, sending dollar crashing through the 115-yen level to its lowest since November 2014. Many of the regional markets, including China, Hong Kong, South Korea, Malaysia, Singapore and Taiwan were closed for the Lunar New Year holiday.
Nikkei 225 declined 918.86 points or 5.4% to 16,085.44 and Jakarta Composite was down by 30.32 points or 0.63% to 4,768.63.