Asian shares mostly lower as markets watch Ukraine tensions

Asian shares are mostly lower, echoing a decline on Wall Street, amid concerns about a potential Russian military invasion of Ukraine

TOKYO -- Asian shares were mostly lower Tuesday, echoing a decline on Wall Street, amid concerns about a potential Russian military invasion of Ukraine.

Japanese shares started with a boost from bargain-hunting after recent losses, but the buying quickly ran out of steam. Data released Tuesday showed the economy grew at an annual rate of 5.4% in October-December, when pandemic restrictions were relaxed for a time after infections fell sharply before rebounding with omicron outbreaks.

“While Japan’s outlook is challenged by virus resurgences and supply chain disruptions, the Q4 data highlighted the potential for pent-up consumer demand once virus risks eventually abate,” said Yeap Jun Rong, market strategist at IG in Singapore.

Japan's benchmark Nikkei 225 shed 0.9% in afternoon trading to 26,839.51. Australia's S&P/ASX 200 sank 0.5% to 7,206.90. South Korea's Kospi lost 1.1% to 2,673.82. Hong Kong's Hang Seng declined 1.2% to 24,267.64, while the Shanghai Composite rose 0.1% to 3,431.80.