Asian shares fell on Tuesday, taking their lead from overnight plunges in global equities while currency markets remain volatile as no party has won a Senate majority in Italy’s elections, extending fears of a resurgent euro zone debt crisis.

The MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent, dragged down by a 1.1 per cent slide in Australian shares and a 0.6 per cent drop in South Korean shares.