HONG KONG, Jan 20: Markets in Asia tumbled on Tuesday as investors followed European stocks in a downward spiral on renewed fears for the banking sector, while Toyota announced its first sales fall in a decade.

Tokyo dived 2.31 per cent, Hong Kong almost 2.9 per cent and Sydney 3.1 per cent, while Seoul shed more than two per cent, Taipei lost 2.84 per cent and Singapore 1.35 per cent.

Dealers’ concerns the global financial crisis has a lot further to go were borne out on Monday when Royal Bank of Scotland announced it had lost up to 40 billion dollars last year, the biggest loss in British corporate history.

The falls came despite a second multi-billion pound bank rescue package by London.

Toyota Tuesday released figures showing a four percent fall in global sales in 2008 due to slumping demand -- its first decline since 1998, according to a company spokeswoman.

TOKYO: Down 2.31 per cent. The Nikkei-225 index dropped 191.06 points to 8,065.79. The broader Topix index of all first-section shares lost 12.70 points, or 1.55 percent, to 805.03.

The Nikkei index shed more than three percent in the morning but narrowed the losses in late trading on speculation that pension funds and other domestic investors were buying major automakers and other shares, dealers said.

HONG KONG: Down 2.9 per cent. The Hang Seng Index closed 380.22 points lower at 12,959.77. Turnover was 39.58 billion Hong Kong dollars (5.07 billion US).

HSBC lost 7.7 per cent to 57.50 dollars, adding to its six-day, 16.6 percent slump on persistent capital-raising concerns, despite a statement from the bank Monday denying speculation it is seeking support from the British government.

SYDNEY: Down 3.1 per cent. The S&P/ASX 200 lost 112.7 points to end at 3,476.6 -- its lowest close since late November -- while the broader All Ordinaries dumped 106.0 points to end the day at 3,425.0.

Preliminary turnover was some 917 million shares worth 2.85 billion dollars (1.89 billion US).

Miners were all lower on lingering concerns about demand. Rio Tinto fell 6.3 percent to 37.99 dollars and BHP Billiton lost 4.7 percent to 28.95 dollars.

Santos was off 5.0 per cent at 14.00 and Woodside Petroleum slipped 2.5 per cent to 33.43.

SINGAPORE: Down 1.35 per cent. The blue-chip Straits Times Index fell 23.62 points to 1,723.37 on volume of 847 million shares worth 719 million Singapore dollars (478 million US).

United Overseas Bank closed 30 cents lower at 11.60 and DBS eased three cents to 8.66.

KUALA LUMPUR: Down 1.1 per cent. The Kuala Lumpur Composite Index fell 9.91 points to close at 880.37.

Turnover was at 375.82 million shares valued at 439.12 million ringgit (122 million dollars).

JAKARTA: Down 0.5 per cent. The Jakarta Composite Index fell 6.54 points to 1,344.15 in thin volume.

Coal miner Bumi Resources slipped 1.9 per cent to 490 rupiah and rival Indotambang Raya dropped 5.0 per cent to 9,450.

Telkom gained 0.8 percent to 6,450 rupiah.

MUMBAI: Down 2.45 per cent. The 30-share Sensex index fell 229.02 points to 9,100.55.

—AFP