Asian stocks fell on Thursday in line with global peers, and the dollar nursed deep losses against the yen as uncertainty mounted over United States (US) President Donald Trump's future following reports that he tried to interfere with a federal investigation.

 Asian stocks fell on Thursday in line with global peers, and the dollar nursed deep losses against the yen as uncertainty mounted over United States (US) President Donald Trump's future following reports that he tried to interfere with a federal investigation.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 per cent.

Japan's Nikkei shed 1.2 per cent, Australian shares lost 1.1 per cent and South Korea's Kospi declined 0.5 per cent.

Equities in Asia took cues from Wall Street, where the Dow and S&P 500 both sank about 1.8 per cent overnight following reports that Trump tried to influence a federal probe.

The allegations have not only thrown doubt over the future of the pro-growth policies that Trump promised, but they have raised the possibility he could end up leaving the presidency.

A small but growing number of Trump's fellow Republicans called on Wednesday for an independent probe of possible collusion between his 2016 campaign and Russia, and one even mentioned impeachment.