Stocks fell in Asia Tuesday as weak Japanese data illustrated the fragile recovery in the world's second biggest economy, while dealers cautiously await key data out of the US and Tokyo. And Chinese and Hong Kong stocks tumbled on growing fears over market sentiment after the last of China's 'big four' state banks priced its initial public offering in Shanghai below expectations. The markets were given a poor lead from Wall Street due to uninspiring consumer figures, while the euro was sold on risk aversion caused by the falling shares. Tokyo fell 1.27 percent, or 123.27 points, to close at 9,570.67, while Sydney was 0.88 percent, or 38.8 points, lower to end at 4,345.7. Seoul finished 1.40 percent, or 24.27 points, lower at 1,707.76. 'I think we are just drifting ahead of the economic data this week,' UBS Executive Director Mark Fitzgerald told Dow Jones Newswires. The Bank of Japan will on Thursday release its monthly Tankan survey of business sentiment that will give an insight into the state of the economy. However, data out on Tuesday suggested the outlook is weak after unemployment rose unexpectedly in May, while factory output declined and household consumption fell. Unemployment edged 0.1 percentage points higher in May to 5.2 percent, missing expectations of a fall to 5.0 percent. Average household consumption also fell unexpectedly in May, by 0.7 percent on- year, defying forecasts of a 0.5 percent rise as weak domestic demand continues to be a burden. The United States will on Friday release non-farm payroll data with many fearing a poor figure could suggest a jobless recovery and the possibility of a double- dip recession. Credit Agricole Corporate & Investment Bank said in a note: 'A degree of risk aversion has crept back into the market ahead of Friday's US jobs report.' Despite earlier optimism, Shanghai fell 4.27 percent, or 108.23 points to 2,427.05, with analysts saying the low price range for Agricultural Bank of China's initial public offering had raised concerns. The index is at its lowest since April last year, Agbank set a value of 37-39 US cents a share, which would raise up to 10.1 billion dollars. But it set a price of 37-44 US cents a share in Hong Kong, where it is also due to list, which would raise as much as 13.08 billion US dollars. The combined value would make it the world's biggest IPO. Hong Kong shares slumped 2.31 percent, or 477.78 points, to 20,248.90. 'The IPO price range was pegged slightly lower, reflecting that there may be a slowing down in investment activity,' Xu Yinhui, an analyst from Guotai Junan Securities, said. The US Commerce Department said consumer spending, a key driver of US economic growth, rose 0.2 percent in May after being flat in April, while personal income rose 0.4 percent, slowing from a 0.5 percent increase in the previous month. The euro was changing hands at 1.2190 dollars in Tokyo afternoon trade, down from 1.2276 in New York late Monday, while slipping to 108.11 yen from 109.72 yen. The dollar was trading at 88.68 yen, down from 89.35 yen in New York. Oil was lower. New York's main contract, light sweet crude for August delivery, was down 19 cents at 78.06 dollars, while London's Brent North Sea crude for August dropped 13 cents to 77.46 dollars. Gold opened at 1,235.50-1,236.50 US dollars an ounce in Hong Kong, sharply down from Monday's close of 1,253.00-1,254.00 US dollars. In other markets: -- Singapore closed 1.38 percent, or 39.65 points, lower at 2,829.38. Neptune Orient Lines fell 2.46 percent to 1.98 Singapore dollars, Wilmar was off 2.53 percent at 5.77 dollars and Singapore Airlines fell 0.55 percent to 14.44 dollars. -- Taipei fell 1.03 percent, or 77.22 points, to 7,423.57. Taiwan Semiconductor Manufacturing Company fell 1.14 percent to 61.0 Taiwan dollars while Formosa Plastics was 0.89 percent lower to 66.9. -- Jakarta lost 2.11 percent, or 62.36 points, to 2,893.37. -- Kuala Lumpur closed down 0.43 percent, or 5.70 points, lower at 1,319.84. Gaming giant Genting slid 3.50 percent to 7.13 ringgit and herbal product manufacturer Hai-O shed 4.70 percent to 3.69. -- Manila closed 0.26 percent higher, adding 8.81 points to 3,372.71. Energy Development Corp fell 1.1 percent to 4.50 pesos and First Philippine Holdings shed 0.9 percent to 55.50 pesos. -- Wellington fell 0.58 percent, or 17.34 points, to 2,991.07. Air New Zealand shed 0.5 percent to 1.88 New Zealand dollars and investment holding company Guinness Peat Group shed 2.9 percent to 66 cents, but Fletcher Building ended up 0.4 percent at 7.98. -- Bangkok fell 0.66 percent, or 5.31 points, to 799.09. Banpu plunged 14.00 baht to close at 604.00 and PTT fell 4.00 baht to 250.00. -- Mumbai slipped 1.35 percent, or 240.17 points, to 17,534.09. Aluminium producer Hindalco fell 4.35 percent to 144.15 rupees and mobile phone firm Reliance Communications fell 3.82 percent to 193.75. 