Asia-Pacific markets traded lower Tuesday after Wall Street fell overnight as tariff threats by U.S. President Donald Trump stoked a risk-off mood, while investors also assessed the rate decision by the Bank of Korea.

Japan’s Nikkei 225 led losses in the region, down more than 1% to close at 38,237.79, while the Topix fell 0.43% to close at 2,724.7. Japan’s major trading houses, however, logged sharp gains on Warren Buffett’s plans to increase Berkshire Hathaway’s stake in the conglomerates.

South Korea’s Kospi traded 0.57% lower to 2,630.29 while the small-cap Kosdaq fell 0.50% to 769.43.

South Korea’s central bank expectedly cut rates to 2.75% from 3%, as it strives to stimulate a slowing economy. The Korean won marginally weakened to 1,430.1 against the dollar.

South Korea has been facing political uncertainty, stemming from the impeachment proceedings against President Yoon Suk Yeol after his short-lived imposition of martial law in December.

Hong Kong’s Hang Seng Index fell 1.36% in its last hour of trade while mainland China’s CSI 300 dipped 1.11% to 3,925.65 amid escalating trade tensions with the U.S. The Hang Seng Tech index pared losses to trade flat.

Source: CNBC