Asian markets open is red, Oil prices down by more than 1%

Asian markets are marginally down on Tuesday as market is now focusing on BOJ meets due later this week. Recent free fall of Oil prices, make the investors to shift their focus on safe havens assets.

Australian banks will be closed in observance of Australia Day.

The Nikkei 225 was 2.00% lower at 16,768.78, while the topix was also down 1.76% at 1,368.18.

As for other markets, the Shanghai Composite index was 1.28% lower at 2,900.79 at the market close, while the Shenzhen Composite index fell 1.32% to 1,901.21. The CSI 300 index dipped 1.09% to start the day at 3,094.67.

Moreover, Hong Kong's benchmark Hang Seng index dipped 1.95% to 5,514.49 at the market open.

New Zealand's benchmark S&P/NZX 50 index fell 0.43% to 6,148.67, while South Korea's benchmark Kospi index started the day 1.50% lower at 1,865.08.