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Asia shares dragged down by sell-off in commodity stocks

Asian shares tracked Wall Street's sell-off on Tuesday, with commodity plays among the biggest casualties on the back of persistent worries over the health of China's economy and renewed weakness in commodity prices.

In the previous session, data showed Chinese industrial profits fell 8.8 percent on-year in August, marking the sharpest pace of declines in profits earned by mainland industrial companies.

Major U.S. averages closed sharply lower overnight, with the tech-heavy Nasdaq Composite leading losses with 3 percent slump. The Dow Jones Industrial Average lost 1.9 percent, while the S&P 500 tumbled 2.6 percent to fall below the psychologically key level of 1,900 for the first time since August 26.

"This is a market driven by sentiment and uncertainty. There's a lot of uncertainty surrounding China and the Federal Reserve," David Lebovitz, global market strategist at J.P. Morgan Asset Management, told CNBC Asia's The Rundown early Tuesday.

Across the pond, the pan-European Stoxx Europe 600...


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