Asian Indices Closed Mixed

Asian markets were subdued on Tuesday, with Japan and Australia finishing slightly lower while China advanced as oil prices edged higher.

In Japan, the Nikkei 225 docked 42.03 points, or 0.2%, to 22,960.34.

Several index heavyweights, however, clung to gains, with Fanuc higher by 0.9% and Fast Retailing rising 0.6% by the end of the day.

In corporate news, Sony said it had reached an agreement to acquire Mubadala Investment's stake in EMI Music Publishing for $1.9 billion U.S. Sony shares were down 2%, paring steeper declines seen earlier.

Against the yen, the U.S. dollar firmed to trade at 111.07, compared to levels around the 110 handle seen last week.

Australian markets tumbled, amid broad-based losses in most sectors. The country's "Big Four" banks mostly finished the day lower, as did major miners. ANZ fell 1.6% leading losses among its peers, while BHP closed down 0.7%

Markets in Hong Kong and South Korea were off for holiday

CHINA

In Shanghai, the CSI 300 dipped 15.03 points, or 0.4%, to 3,906.21

Developments in the trade relationship between the U.S. and China have been in focus for investors. In particular, the Wall Street Journal reported on Tuesday that the U.S. could lift its ban on U.S. companies selling technology to Chinese telecommunications equipment maker ZTE.

That came after U.S. Treasury Secretary Steven Mnuchin told media outlets on Monday that the most recent round of bilateral trade talks with China had "made very meaningful progress" and that it was now up to both parties to implement what had been discussed. Mnuchin's Sunday comment that a trade war between the countries was "on hold" had cheered global markets on Monday.

In other markets

In Singapore, the Straits Times Index dropped 5.05 points, or 0.1%, to 3,543.18

In Taiwan, the Taiex Index deleted 27.47 points, or 0.3%, to 10,938.73

In New Zealand, the NZX 50 fell 2.4 points to 8,613.32

In Australia, the ASX 200 eased 42.62 points, or 0.7%, to 6,041.87