Asian stock markets declined Tuesday amid worries about weak Christmas sales in the United States and Europe and a warning by Japan's central bank about possible risks from the European debt crisis.
Tokyo lost 0.4 percent to 8,442.14 while China's benchmark Shanghai index shed nearly 1 percent to 2,314.4. Seoul, Taipei and Singapore also declined, while Hong Kong and Sydney were closed.
Investors are pessimistic amid expectations that upcoming indicators including Chinese manufacturing and Christmas retail sales in key Western markets will be lackluster, said Peng Yunliang, a market strategist for Shanghai Securities.
Tokyo's Nikkei 225 declined after the Bank of Japan released notes that showed a Finance Ministry representative warning at a November meeting the world's third-largest economy faces "significant downside risks" due to Europe's debt problems.
Wall Street and European stock markets were closed Monday because Christmas fell on a Sunday this year.
Elsewhere in Asia, Seoul's Kospi shed 0.5 percent to 1,848.12 while Taiwan's Taiex lost 0.4 percent to 7,095.59. Singapore's benchmark was off 0.2 percent at 2,671.96.
Asian investors are closely watching Europe, whose debt crisis already has hurt demand for exports from China and other major producers.
In the last pre-holiday U.S. trading day on Friday, the Dow Jones industrial average added 1 percent while the Nasdaq composite index gained 0.7 percent. The Standard & Poor's 500 index rose 0.9 percent.
Benchmark crude for February delivery was up 6 cents at $99.74 a barrel in electronic trading on the New York Mercantile Exchange.
In currencies, the euro was up 0.1 percent at $1.3064 while the dollar held steady at 77.92 yen.
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