AFP, Hong Kong :
Asian stocks dropped Wednesday, following a sharp fall on Wall Street over fears of a market correction and concerns the conflict in Ukraine could escalate.
Analysts cited comments by Polish Foreign Minister Radoslaw Sikorski, who said Russia had increased its military presence on the Ukraine border, suggesting the situation could deteriorate.
Tokyo’s Nikkei fell 1.05 percent or 160.52 points to close at 15,159.79, Sydney dropped 0.12 percent, or 6.6 points, to finish at 5,512.0, and Seoul shed 0.27 percent, 5.53 points, to 2,060.73.
Hong Kong dipped 0.33 percent in afternoon trade, while Shanghai slipped 0.11 percent, or 2.48 points, to close at 2,217.47. Shenzhen rose 0.39 percent, or 4.57 points, to end at 1,177.33.
“If Poland is indeed right that Russia is about to increase its presence in the east of Ukraine, buyers of all things risk will disappear fast as this is an indefinable outcome for markets,” IG strategist Evan Lucas told Dow Jones Newswires.
CMC Markets added: “The potential of an invasion in Ukraine sent investors scurrying for the exits as they find the slightest excuse to scale off profits.”
In the US, the Dow Jones Industrial Average dropped 139.81 points (0.84 percent) to 16,429.47.
The broad-based S&P 500 fell 18.78 (0.97 percent) to 1,920.21, while the Nasdaq Composite Index sank 31.05 (0.71 percent) to 4,352.84.
The drop follows heavy losses at the end of July, which saw the Dow shed its gains for the year in its worst week since January, and the S&P 500 record its biggest weekly decline since mid-2012.
Mace Blicksilver, director at Marblehead Asset Management, said of Tuesday’s fall: “It’s continuing the trend from last week.”
