Saudi Arabia's Crown Prince Mohammed bin Salman on Tuesday arrived in Washington for a state visit, raising speculation the United States could reimpose sanctions on Iran, following renewed criticism of the 2015 nuclear deal.
China's retail sales rose 10 per cent on the year in October, while industrial output grew 6.2 per cent. Both came in under market forecasts and nudged down the Australian dollar, which is often used as a liquid proxy for China wagers.
Tokyo's benchmark Nikkei dropped 0.7 percent, bringing down MSCI's Asia-Pacific Index 0.4 percent. Excluding Japan, shares in the region were down just 0.05 percent, with mainland Chinese shares rising 0.6 percent to two-year highs.