Tokyo plunged 3.1 per cent and Hong Kong fell 3 per cent as investors locked in profits on recent gains, dealers said.

Singapore and Sydney each eased 0.7 per cent and Kuala Lumpur gave up 1.8 per cent. Bangkok fell 1.5 per cent, Jakarta and Manila retreated 0.9 per cent each and Taipei dropped 0.8 per cent. Seoul ended barely lower.

Regional investors were nervously waiting to see which way Wall Street moves Wednesday after the Dow Jones Industrial Average fell 2.2 per cent overnight at 9,671.8 3, slipping away from the elusive 10,000-point mark.

In Tokyo, the Nikkei index of 225 leading issues lost 503.63 points to end at 15,515.47, losing 5.6 per cent since the start of this week. There was no trading here Monday for a public holiday.

The key index lost more than 200 points in the final hour of trading after limited buying support onits downside dampened sentiment, brokers said. The broader Topix index of all first-section issues shed 30.12 points to 1,233.59.

Shares traded lower throughout the day in a negative reaction to the previous day's sharp falls on Wall Street, they said. ``Aside from the New York fall, there is a sense of wariness among investors about buying heavily following the Nikkei's steep increase last week,'' Daiwa Research Institute market analyst Mitsuhiro Nakano said. The Nikkei average surged 5.7 per cent during the previous week.

Hong Kong: Hong Kong share price closed nearly 3 per cent lower, falling belowthe psychological 11,000-point resistance level on overnight losses on Wall Street and declines in Tokyo, dealers said. ``The market has been dragged down by falls in Tokyo, and the movement on Wall Street tonight may continue to affect trading,'' said Sean Li, associate director at A msteel Securities.

The key Hang Seng index lost 329.67 points to close at 10,711.34 on a turnover OF 5.558 billion HongKong dollars (718 million US). Dealers said investors used the weakness in overseas markets to lock in profits on recent gains.

``The weaker overseas markets has given excuse for profit-taking,'' said Ben Kwong, research head at Dharmala Securities.

Singapore: Singapore's benchmark share index closed 0.7 per cent lower on lack of positive leads following the sharp fall on Wall Street, dealers said. ``Investors are watching if Wall Street will slide again today. The regional markets are weak. Most European markets have already opened lower. There is very little in the way of positive leads to move the market,'' a dealer with a local broking ho use said.

The Straits Times index fell 10.51 points to 1,482.36. The more broadly-based AlL-Singapore index rose 0.51 points to 397.24.

Kuala Lumpur: Malaysian share prices ended 1.8 per cent lower on across-the-board selling, with the index dropping below the 500-point support level, dealers said. The Kuala Lumpur Stock Exchange's weighted composite index fell8.91 points to End at 494.57, off an earlier low of 492.09 points.

``A lot of banks are doing some margin sell and (losses) have been aggravated by foreign selling,'' a Chief dealer with a local brokerage said. ``There is not much to say about the market at the moment but what is clear is that the immediate term outlook is really bearish.''

Bangkok: Thai shares fell 1.5 per cent at the close as investors took profits with little buying impetus in the wake of falls on Wall Street, dealers said. Dealers said the market traded in thin volumes with low retail interest, reflecting poor sentiment around the region.

``It was down on regional weaknesses on the back of the Dow's fall last night and a general lack of interest in the IMF letter of intent,'' a foreign analyst said. The Thai cabinet Tuesday approved its seventh letter of intent to the International Monetary Fund (IMF), detailing quarterly commitments to reform which had already been factored in to the market, analysts said.

The Stock Exchange ofThailand (SET) composite index lost 5.39 points to 360.35,while the SET 50 selected index shed 0.47 to 26.56.

Jakarta: Indonesian share prices closed 0.9 per cent lower in line with weaker regional markets following a sharp overnight fall on Wall Street, dealers said. A dealer at a local brokerage said the market fell on profit-taking in large caps, including Telkom and cigarette counters.

``I think the market was moving in line with Wall Street ... the regional trend Was so weak today,'' he said. The composite index closed down 3.464 points at 391.345.

Seoul: South Korean share prices ended barely lower with late retail bargain-hunting partly offsetting early declines triggered by a fall on Wall Street, dealers said. Prices opened sharply lower, with concerns of a rise in oil prices following the OPEC output cut agreement putting additional pressure on the market, Kyobo Securities analyst Park Jong-sung said.

But lower money market rates encouraged retail investors later in the session to buysecond-liners, dealers said, adding opportunities still abounded.

``There is still ample buying potential given the stable supply and demand conditions and this should absorb the sell-offs and then drive the index higher,'' Hyundai Securities dealer Lim Bok-kyu said. The Korea Stock Exchange composite index closed down 2.86 points, or 0.47 percent, at 611.48, off a low of 603.25.