Asian markets ended lower on Tuesday amid worries about inflation following crude oil's sharp uptick to 14 year high amid fears of a ban on Russian oil by the U.S. and its Western allies. There was no major progress in the peace talks between Ukraine and Russia weighed on sentiment. Meanwhile, the U.S. Federal Reserve is preparing to raise interest rates by at least a quarter point at its monetary policy meeting next week. Chinese stocks tumbled amid concerns over inflation, risks from the Russia-Ukraine war and rising Covid-19 cases in mainland China and Hong Kong. Japanese shares hit a 16-month low amid worries that higher input costs may weigh on profit margins in the near term.
| Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 3,293.53 | -79.33 | -2.35 |
| Hang Seng | 20,765.87 | -291.76 | -1.39 |
| Jakarta Composite | 6,814.18 | -54.89 | -0.80 |
| KLSE Composite | 1,546.87 | -25.69 | -1.63 |
| Nikkei 225 | 24,790.95 | -430.46 | -1.71 |
| Straits Times | 3,148.86 | -38.96 | -1.22 |
| KOSPI Composite | 2,622.40 | -28.91 | -1.09 |
| Taiwan Weighted | 16,825.25 | -353.44 | -2.06 |
