Asian markets started Tuesday on the back foot, after the Dow retreated further from the 20,000 mark and oil prices plunged as much as 4 percent overnight.

Australia's ASX 200 was down 0.46 percent in early trade, weighed heavily by losses in its energy sub-index as oil prices plunge.

Japanese benchmark Nikkei 225 opened down 0.2 percent, like due to the yen's strength.

Shares of Toyota were down 0.14 percent to 6,922 yen each, after its North American Chief Executive Jim Lentz announced on Monday that it would invest USD 10 billion over the next five years in the US to meet demand and upgrade plants and build more fuel-efficient models. The Japanese automaker has recently been criticized by President-elect Donald Trump on Twitter for shifting the production of its Corolla to Mexico from Canada.

But Toyota's Lentz said in an interview at the Detroit auto show that this investment was not in response to Trumps' latest tweet, but part of Toyota's business strategy.

Over in South Korea, the Kospi was down 0.26 percent in opening trade.

South Korean electronic giants LG and Samsung consider building US factories for the production of home appliances to appease Trump, the Nikkei Business Review reported late Monday. Both companies are set to announce its plans to invest in the US ahead of the new president's inauguration on January 20.

LG Electronics was down 1.68 percent at 52,700 won each, while Samsung Electronics inched 0.05 percent at 186,2000 won per share.

On the economic data calendar, Australia will announce November retail sales, while China's Consumer Price index and Producer Price index are due.

"Inflation data from China could set the regional tone. Consumer prices are anticipated to show a modest slowing in growth rates, but the PPI is forecast to accelerate from 3.3 percent to 4.6 percent," said Michael McCarthy, chief market strategist at CMC Markets in a note on Tuesday.

"A read of this magnitude could reverse industrial commodity weakness, and add a fillip to any late session buying," he added.

Stateside, the Dow Jones industrial average retreated from its march to 20,000, slipped 0.38 percent to 19,887.38, while the S&P 500 fell 0.35 percent to end at 2,268.9 while the Nasdaq composite finished up 0.19 percent, to 5,531.82.

In currency markets, the dollar index lost ground to trade at 101.84, compared to highs of 102.29 yesterday. The yen rose against the dollar at 115.88, while the Australian dollar was stronger at USD 0.7357.

Crude prices dropped 4 percent on Monday during US hours, on concerns that record Iraqi crude exports and rising US production would undermine the Organization of Petroleum Exporting Countries recent deal to cut supply. In Iraq, oil exports from the southern Basra ports reached a record high of 3.51 million barrels per day in December, Reuters reported.

US crude fell USD 2.03 at USD 51.96 a barrel, while Brent finished down USD 2.16 at USD 54.94.

Share Market Live

NSE

First Published:Jan 10, 2017 7:40 AM IST