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Hong Kong -Asian markets retreated on Tuesday as investors took advantage of a quiet trading day to take profits after a healthy run-up over the past week.
Energy firms continued to be buffeted by tumbling oil prices, with Sydney-listed firms including Santos and BHP Billiton taking the biggest hit.
Tokyo slipped 0.40%, Hong Kong fell 0.84%, Sydney shed 1.10% and Shanghai eased 1.47%, while Seoul was 0.42% lower.
With few catalysts to drive business traders took a breather after running up impressive gains so far this month, helped by a string of upbeat US data and expectations China will unveil more economy-boosting measures.
Wall Street eased, with the Dow falling 0.59%, the S&P 500 down 0.73% and the Nasdaq off by 0.84%.
Tokyo, which has surged since the Bank of Japan in October widened its stimulus programme, eased as the yen ticked up against the dollar.
The greenback bought ¥120.66 compared with ¥120.78 in New York on Monday afternoon.
However, the US unit is still at seven-year highs and analysts are predicting further advances as the Federal Reserve considers an interest rate hike.
"Market conviction is growing in a Fed rate hike next year," said Joe Manimbo, senior market analyst at Western Union Business Solutions.
"Still, dollar rallies could get undercut by market profit-taking on its torrid strength while relatively low US yields risk limiting its rise."
In other forex trade the euro bought $1.2316 and ¥148.63 against $1.2308 and ¥148.65 in US trade.
Oil prices fell further to fresh five-year lows, battered by Opec's decision last month to maintain its output levels despite a global supply glut.
US benchmark West Texas Intermediate for January delivery fell 22 cents to $62.83, while Brent crude was down 16 cents at $66.03.
The weak oil prices hit energy firms, with Sydney-listed BHP down 3.5% and Santos off 8.2%, while Woodside lost 2.3%.
In Hong Kong CNOOC shed 3.4% and PetroChina was 2.2% lower.
Gold was at $1 200.71 an ounce compared with $1 195.20 late on Monday.
