Japanese stocks slipped on Tuesday as investors awaited the outcome of the U.S. Federal Reserve's two-day policy meeting, but retailers bucked the trend on stronger-than-expected sales growth.
In Tokyo, the Nikkei 225 gave back 58.81 points, or 0.4%, to 15,329.91
In Hong Kong, the Hang Seng index sprang to life again, adding 377.13 points, or 1.6%, to 23,520.36, its biggest daily gain since early September.
Hong Kong shares rose on Tuesday, underpinned by expectations for a slower pace of U.S. interest rate rises and more reforms at Chinese state-owned enterprises
In Japan, shares in Canon Inc slid 2.5% as its quarterly operating profit was hit by a slump in digital camera demand.
Retail giants Seven & I Holdings and Aeon Co fared better, rising 1.0 percent and 0.4% respectively on the back of the strongest increase in Japanese retail sales since March.
Analysts said media reports about talks to integrate the mainland's top trainmakers, China CNR and CSR Corp , held out hope for more extensive reforms for the country's other state-owned companies.
The consumer goods sector was lifted by China's top footwear retailer, Belle International Holdings, which posted solid first-half earnings on Monday. Belle soared more than 10 percent on Tuesday.
In other markets;
Shanghai’s CSI 300 index regained 47.82 points, or 2%, to 2,416.65.
Singapore’s Straits Times Index dropped 14.46 points, or 0.5%, to 3,211.65
The Taiex index in Taiwan bolted higher by 145.77 points, or 1.7%, to 8,773.55
Korea’s Kospi index slipped 6.29 points, or 0.3%, to 1,925.68
New Zealand’s Exchange 50 returned from holiday to gain 4.51 points, or 0.1%, to 5,338.33.
Australia’s S&P/ASX 200 eased 6.36 points, or 0.1%, to 5,452.60
