HONG KONG: Asia stocks were mostly lower on Tuesday, tracking a retreat on Wall Street after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the central bank for a second term, reinforcing expectations the U.S. will taper its stimulus soon.
MSCI's gauge of Asia Pacific stocks outside Japan fell 0.49%, while Hong Kong's Hang Seng Index and China's benchmark CSI300 Index opened 1.1% and 0.2% lower, respectively.
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