Asian Markets Today: Shares Plunge After Wall Street's Decline

Markets across the U.S., Europe, and Asia plunged on Monday as rising COVID-19 cases and uncertainty over U.S. stimulus added to investor fears. The Dow declined 2.29% and the S&P 500 shed 1.86% on Monday, marking their steepest fall since September. Futures show respite early Tuesday, with the Dow trading 0.17% higher and the S&P 500 futures up 0.15% on the last check.

All major markets across Asia, except India, are trading lower, following the declines from Monday. Mixed economic data on Monday and a busy economic calendar in Asia for the rest of the week are keeping investors on guard.

Japan's Nikkei 225 benchmark is trading lower by 0.33% at press time. All sectors across Japan, except information technology and food stocks, are down in Tuesday's trade. Strong earnings from Canaon Inc CAJFF helped the index trim early losses. Investors will be watching core consumer price index data scheduled to release Tuesday. 

China's Shanghai Composite benchmark has shed 0.37%, heading for the fifth trading session of loss as investors look ahead to Beijing's latest five-year policy plan set to finalize by Thursday. Financials, energy, and technology stocks are trading lower, partially offset by gains in consumer staples and healthcare stocks. The industrial profit for China in September grew 10.1% year-over-year but is down 2.4% year-to-date.

Hong Kong's Hang Seng Index is trading lower by 1.11%, with all the sectors in the red. September's trade balance data is scheduled for release on Tuesday.

Australia's S&P/ASX 200 has plunged 1.66% towards the end of Tuesday's trade, hitting a three-week low. All sectors are down, with technology and energy names leading the charge. The index is down for the fourth straight session as investors wait for the consumer price data scheduled late Tuesday.

India's Nifty 50 index is trading 0.17% higher after a 1.36% decline on Monday. Technology and PSU Bank shares are pulling the index lower. There are no major economic events scheduled for Tuesday.

South Korea's KOSPI is trading lower by 0.39% at publication time after Monday's GDP data showed a decline of 1.3% YoY, better than the consensus of a 1.9% decline. Financial shares are pushing the index lower. October's consumer confidence index is scheduled to release Tuesday.

Forex Trading: U.S. Dollar Index futures are trading lower by 0.10% to 92.948. The dollar has weakened 0.04% against the Japanese Yen to 104.78 and 0.14% against the Chinese Yuan to 6.7025.