Mumbai, Jan. 28 -- Asian stocks ended mostly lower in thin trade on Tuesday, with markets in China, South Korea, Taiwan and Indonesia closed for the Lunar New Year holidays.

Tariff worries persisted, with U.S. President Donald Trump's Treasury secretary pick, Scott Bessent, pushing for new tariffs and warning of a 'calamity' for middle-class Americans, if tax cuts expire at the end of this year.

The dollar strengthened against peers after Trump said he plans to impose sweeping tariffs on steel, aluminum, copper, semiconductor, and pharma imports in a push to increase U.S. production of the products.

Gold held steady in Asian trade as investors awaited cues from this week's Fed and ECB meetings.

Oil recovered some ground but hovered ne...