Asian stock markets slid today over worries about slower economic growth in China and a possible snag in the deal for Greece to get its bailout money.
Japan's Nikkei 225 index dropped 0.8% to 9,619.59 and South Korea's Kospi shed 1.3% to 1,990.90.
Hong Kong's Hang Seng lost 1.5% to 20,944.54 and mainland China's Shanghai Composite Index fell 1% to 2,417.29.
Australia's S&P/ASX 200 retreated 1.2% to 4,210.90. Benchmarks in Taiwan and Singapore also fell.
Investors continued to be pessimistic following premier Wen Jiabao's announcement at the start of the national legislature's annual session yesterday that China, a key driver of the world economy, is lowering its economic growth target to 7.5% from the 8% level it has stood at for years.
The target underlines China's emphasis on better, not faster, growth.
Mr Wen's announcement is cause "for some concern that China might not roll out so many pro-growth policies in the near future", said Jackson Wong, a vice president at Tanrich Securities.
Greece's long-running debt crisis also weighed on the markets because of worries not enough investors will swap their Greek government bonds for new ones that are worth less and pay lower interest.
Greece will learn by Thursday night what percentage of private creditors will participate in the bond swap.
Without the debt relief, Greece will not get a second, €130bn international bailout and would face a default on its debts.
"Before the close of business Thursday, we really don't know whether it's going to be a go," said Mr Wong. "So it just seems not to be very wise to get into market at this point."