Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co. pulled the Taiex index to its biggest slump in six weeks after a pro-independence politician was appointed to manage ties with the mainland and a newspaper said the island's top negotiator canceled a trip to China.
The Taiex had risen this year on the promise of closer ties. Hyundai Heavy, the world's largest shipbuilder, dropped the most in seven weeks in Seoul.
The MSCI Asia Pacific excluding Japan Index fell 0.2 per cent to 491.41 at 5:37 pm in Hong Kong.
About half of Asia's markets open for trading slumped, with Taiwan's Taiex index falling 2.1 per cent, the sharpest decline in the region and the biggest drop since March 13. Japan's markets were closed for a public holiday.
Europe
European stocks fell for the first time in five days as some earnings forecasts disappointed investors and lower metal prices weighed on mining shares.
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Europe's Dow Jones Stoxx 600 Index lost 0.3 per cent to 322.62 at 10:10 am in London with all 18 industry groups declining except for oil stocks. Futures on the Standard & Poor's 500 Index fell 0.1 per cent, and China's CSI 300 Index advanced 1.3 per cent.
US
Most US stocks rose for a fourth day after billionaire Warren Buffett financed the $23 billion takeover of Wm. Wrigley Jr. Co. and investor Kirk Kerkorian bought a stake in Ford Motor Co.
About five stocks gained for every four that fell on the New York Stock Exchange. The S&P 500 slipped 1.47 points, or 0.1 per cent, to 1,396.37.
The Dow decreased 20.11, or 0.2 per cent, to 12,871.75. The Nasdaq Composite Index added 1.47, or 0.1 per cent, to 2,424.4.
The Russell 2000 Index, a measure of companies with a median market capitalization of $535 million, gained 0.5 per cent for the fourth consecutive advance of the exchange.