Asian shares mostly lower after Wall St tumble

Asian markets mostly sank again on Thursday after Wall Street was hit by a further fall in oil prices, while the dollar edged up after tumbling against the yen.

Analysts said traders were taking their cash off the table before the end of the year after enjoying a surge over the past few weeks that has been supported by strong US data, Japanese easing measures and hopes for stimulus in China.

Tokyo tumbled 1.54 per cent, Hong Kong sank 1.40 per cent, Sydney shed 0.58 per cent and Seoul lost 0.85 per cent but Shanghai added 0.20 per cent.

In New York the Dow and S&P 500, which last week ended at record highs, retreated owing to a pullback in petroleum plays that came after OPEC lowered its demand forecast for 2015 and the US revealed its stockpiles surged.