SINGAPORE : Asia's share markets slid on Tuesday, with Japan's financial stocks leading losses as fear of a U.S. banking crisis gripped investors ahead of crucial inflation data due later in the day.
On Tuesday MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5 per cent in early trade, with financials in Australia dragging the most. "Arguably, liquidity measures should have stopped these dynamics but Main Street has been watching news and queues – not financial plumbing," he said."Fear has started to feed on itself, and higher uncertainty by itself has triggered its own de-leveraging and de-risking dynamics."
In Tokyo, Resona Holdings led losses with a 9 per cent slide, followed by Sumitomo Mitsui Financial Group, down 8 per cent.
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