Asian equity markets sank on Wednesday following a heavy sell-off in New York, where a string of poor earnings reports stoked concerns about the US economy and put pressure on the dollar.Traders are also keeping an eye on Europe as Greece's new anti-austerity government prepares to face off with its international creditors over its bailout.
Tokyo fell 0.20 per cent, Sydney lost 0.27 per cent, Hong Kong was 0.16 per cent lower, Shanghai sank 1.30 per cent and Seoul gave up 0.18 per cent.
Global investors - already nervous owing to political uncertainty in Greece, plunging oil prices and weak world economic growth - ran for cover in US trade Tuesday in response to negative reports from some of the world's biggest firms.
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