Asian shares fall on European debt woes

Asian stocks opened lower on Tuesday after European shares closed 4.1 per cent lower  amid renewed concerns over health of euro zone banks and weak economic outlook.

Japan's benchmark Nikkei average opened  down 1.1 per cent at 8,687.11, while the broader Topix shed 0.7 per cent to 750.31.

Seoul shares fell for a third straight session, amid renewed fears over euro zone fiscal crisis and risk of a recession in the U.S.

The Korea Composite Stock Price Index slid 2.1 percent to 1,748.0.

Australian stocks declined at the open, following European markets which tumbled as worries about deficits cast fresh doubt on the euro zone's ability to handle its debt crisis.

The benchmark S&P/ASX 200 index fell 1.2 per cent to 4,092.8, while New Zealand's benchmark NZX 50 index fell 0.8 per cent to 3,267.2 in early trade.