Asia-Pacific markets traded lower Tuesday after Wall Street fell overnight as Trump tariffs stoke a risk-off mood, while investors assesed Bank of Korea's rate decision.

Australia's S&P/ASX 200 fell 0.87%.
Japan's Nikkei 225 declined 1.34%, while the Topix slipped 0.72%.

South Korea's Kospi traded 0.5% lower while the small-cap Kosdaq fell 0.44%.

South Korea's central bank expectedly cut rates to 2.75% from 3%, as it strives to stimulate a slowing economy. The Korean won is currently trading at
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 1.94% while mainland China's CSI 300 dipped 0.88%.
Overnight in the U.S., the markets failed to spring back from last Friday's sell-off. The broad market index lost 0.5%, closing at 5,983.25. The Nasdaq Composite fell 1.21%, ending the session at 19,286.92. The Dow Jones Industrial Average inched up 33.19 points, or 0.08%, to close at 43,461.21.

Ongoing concerns about U.S. President Donald Trump's trade war with key trading partners continued to weigh on market sentiment. Trump on Monday declared that tariffs on Canada and Mexico will be implemented once the one-month delay period concludes next week.
Nissan shares plunge as automaker deals with the fallout of failed merger talks, Trump tariff threats
Shares of Japanese automaker Nissan declined sharply Tuesday as it grapples with the fallout of failed merger talks with Honda, while they were also pressured by President Donald Trump's plans to go ahead with tariffs on Canada and Mexico.

Nissan shares slipped as much as 9%, before paring losses to trade 7.72% lower.

On a percentage of sales basis, Nissan Motor is the second most exposed to tariffs on Mexico, right after German automaker Volkswagen, according to data by S&P Global Mobility.

Source: CNBC