Asia stocks slide amid China woes, Japan catches up on chip sell-off

By Kevin Buckland TOKYO - Asian shares sank on Tuesday, as worries about the Chinese property sector weighed on markets from Hong Kong to Australia, while Japanese investors sold chip stocksBy Kevin Buckland

Japan's Nikkei tumbled 1.1% under the weight of big losses for chip-related stocks including Tokyo Electron and Advantest. In one positive development, Country Garden won approval from creditors to extend repayment on another onshore bond, the last in the batch of eight bonds it has been seeking extensions for, sources said. The stock climbed about 1%.

Currency markets were also subdued, with the U.S. dollar index - which measures the currency against six major peers - rising 0.06% to 105.14, edging back toward last week's six-month peak of 105.43.The euro eased 0.07% to $1.06825.

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Asia stocks slide amid China woes, Japan catches up on chip sell-offAsian shares sank on Tuesday, as worries about the Chinese property sector weighed on markets from Hong Kong to Australia, while Japanese investors sold chip stocks on their return from a holiday-extended weekend. Benchmark U.S. Treasury yields hovered near 16-year peaks and the dollar held close to six-month highs as traders braced for a Federal Reserve rate decision on Wednesday, in a week that also sees policy decisions from the Bank of Japan and Bank of England, among others. Japan's Nikkei tumbled 1.1% under the weight of big losses for chip-related stocks including Tokyo Electron and Advantest.
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