Asian markets were mixed on Tuesday, with the Japanese market ending lower as stocks came under pressure due to a weaker U.S. dollar buoying the yen.
The Nikkei 225 index in Tokyo dumped 100.83 points, or 0.6%, to 16,497.36
In Hong Kong, the Hang Seng Index nicked up 1.02 points to 22,998.93
The Japanese yen saw renewed strength in the afternoon session against the dollar, going high as 99.97 before retreating slightly to 100.08 as of late afternoon. This was compared with levels near 100.76 on Monday afternoon local time.
Japanese export stocks traded mostly lower throughout the session, likely tracking the yen's movement. Shares of Toyota closed down 1.7%, Nissan was down 1.5% and Honda declined by 2.1%. A stronger yen is usually a negative for exporters as it reduces their overseas profits when converted back into local currency.
The Reserve Bank of New Zealand said on Tuesday its current interest rate track involves further rate cuts, possibly by another 35 basis points, to balance a number of risks weighing on the New Zealand economy, while propping up inflation closer to the midpoint of its 1% to 3% target range.
Earlier this month, the central bank cut its official cash rate by 25 basis points to 2%.
After the move, the New Zealand dollar strengthened against the greenback, trading up at $0.7338 U.S. on Tuesday afternoon, compared with earlier lows of $0.7257.
In company news, shares of Japanese semiconductor maker Renesas Electronics dropped 5.6% on Tuesday, following a report that said the company was nearing an expected $3-billion acquisition of U.S. chipmaker Intersil.
Australian energy company Oil Search announced its net profit after tax for the first half plunged 89% to $25.6 million U.S., from $227.5 million in the year-earlier period, as it was hit by the prolonged slump in global oil and liquefied natural gas prices. Total revenue declined 33% on-year to $580.8 million U.S. in first half of 2016.
Oil Search shares fell 0.8%. Other energy plays across the region were mostly lower amid falling oil prices, with Woodside Petroleum off 0.4% and Inpex losing 2.2%.
One of Australia's largest retail landlords, Scentre Group, also reported its profit after tax for the January-to-June period was up 6.6% on-year at A$1.154 billion, while revenue fell 5.2% to 1.28 billion Australian dollars ($974.10 million U.S.).
Shares of Scentre, which owns and operates interests in Westfield shopping centers in Australia and New Zealand, closed down 0.2%.
CHINA
The Shanghai CSI 300 moved up 5.04 points, or 0.2%, to 3,341.83
China's July diesel and gasoline exports soared 181.8% and 145.2%, respectively, on-year, which put pressure on refined product margins. In the U.S., drillers added 10 oil rigs in the week to August 19, marking eight straight weeks of rig additions, while Iraq said it plans to increase its exports of crude oil
In other markets
The Taiex Index in Taiwan recovered 49.12 points, or 0.6%, to 9,030.93
In Korea, the Kospi index nosed up 7.77 points, or 0.4%, to 2,049.93
In Singapore, the Straits Times Index gained 9.24 points, or 0.3%, to 2,850.43
In New Zealand, the NZX 50 added 5.18 points, or 0.1%, to 7,467.34
The ASX 200 recouped 38.72 points, or 0.7%, to 5,553.77
