Asian stock market summary

The Nikkei 225 Stock Average finished lower for the third straight day, down 0.1 percent at 12,914.66, following sustained losses on Wall Street.

Investors were cautious ahead of interest rate decisions by the Federal Reserve later on Tuesday and the European Central Bank on Thursday.

The broader Topix was ended down 0.04 percent at 1,247.71.

SOUTH KOREA

The Korea Composite Stock Price Index closed 0.49 percent lower at 1,535.54, led by steel-makers and shipbuilders as persistent worries about slower demand for heavy industrial goods weighed on the sector, while banks rebounded after their latest losses.

AUSTRALIA

The benchmark S&P/ASX 200 index finished 1.4 percent lower at 4,820.4, as concerns about slowing global demand hit oil and metals prices, sparking steep declines in heavyweight resource firms such as BHP Billiton Ltd.

The All Ordinaries closed down 1.5 percent at 4,882.0.

CHINA

The benchmark Shanghai Composite Index closed down 1.86 percent at 2,690.75, led by coal firms and metals stocks after a sharp decline in commodity prices.

The launch of IPO subscriptions for China South Locomotive & Rolling Stock helped to depress trade by draining funds out of the secondary market.

The Shanghai A-share Index was down 1.85 percent at 2,822.82, while the Shenzhen A-share Index fell 3.06 percent to 829.26.

The Shanghai B-share Index fell 4.17 percent to 199.20, while the Shenzhen B-share Index lost 3.63 percent to 433.83.

TAIWAN

The weighted index closed down 2.35 percent at 6,813.40, as steel and cement stocks slumped following a drop in metals and other commodity prices overnight amid worries over the global economy.