Asian shares plunged to a three-year low on Tuesday, tracking losses in Wall Street, as global growth concerns and lower commodity prices pushed equities lower.
Data from China released on Monday added to worries as it showed industrial profits plummeted 8.8% from a year earlier, where the Caixin Final Manufacturing PMI for September due on Thursday may confirm the index hit its lowest level in six and a half years.
Worries from China weakened demand on commodities. Gold resumed its fall for a third straight session to $1125.98 an ounce.
The MSCI’s broadest index of Asia-Pacific outside Japan was down by 2.3 percent, marking the lowest since June 2012.
The Shanghai Composite Index dropped 2 percent to end the session at 3,038.14. Hong Kong’s Hang Seng edged down 3.2 percent to 20,508.94.
Japan’s Nikkei 225 index tumbled to an eight-month low after it subtracted 4.05 percent to 16,930.84, ahead of Tankan quarterly business confidence survey due on Thursday.
At the end of this week, investors will put the U.S. non-farm payrolls data under scrutiny after Fed Chair Janet Yellen said last week there would be interest rate increase before the end of this year.