Indexes in Asia Pressured

Most major Asian indexes closed mixed on Tuesday, following a narrowly mixed close on Wall Street overnight. With little data due during the session, markets turned their attention to events later this week.

The Nikkei 225 index lost 9.75 points to 22,486.24

The Hang Seng Index reversed 5.34 points to 29,680.85

Major exporters from Japan, including automakers and tech names, were mostly lower. Energy-related names also finished the session lower as oil prices edged down.

Defense-related plays, meanwhile, closed higher following headlines that Japan had noticed radio signals that North Korea could be making preparations for a ballistic missile launch. Defense-linked stocks trended higher, with Hoya Machinery surging 12.5% and Ishikawa Seisaku surging 8.4% by the end of the day.

Japan's Toray Industries falsified data at one of its units for eight years, local media said. Toray Hybrid Cord, a Toray subsidiary, falsified product data for goods that were sold to 13 clients. Several other Japanese firms, including Kobe Steel and Mitsubishi Materials, have been caught up in data fabrication scandals of late. Shares of Toray closed down 5.3%.

Meanwhile, Japan's SoftBank has reportedly proposed to buy Uber shares at $48 billion U.S. That amount would be a 30% discount to Uber's valuation. SoftBank shares were off 0.3% by the end of the day.

Korean markets advanced marginally, despite some tech stocks extending Monday's declines. Heavyweight Samsung Electronics, however, reversed early losses to rise 1.2% after closing lower by more than 5% in the last session following a Morgan Stanley report that downgraded its stock. Other tech plays were mixed: SK Hynix fell 0.6% and LG Display edged down 0.2%. Manufacturing plays traded higher.

Hong Kong markets slipped, following a South China Morning Post report that Beijing will limit southbound capital in the Stock Connect. Chinese mutual funds intending to allocate less than half of their funds to the Hong Kong stock market will be approved, compared to earlier rules that allowed allocations above 80%, the Post said.

Insurers traded lower, with AIA falling 2.6% and China Life Insurance dropping 1.9%

Australian markets faded, as a 1.3% fall in the telecommunications sector weighed on the index. Retailers climbed, but major miners finished the day with losses, with Rio Tinto and BHP down 0.8% and 2% respectively.

CHINA

In Shanghai, the CSI 300 recovered 5.87 points, or 0.1%, to 4,055.82, breaking a three-day losing streak. Consumer and materials names led gains, while the financial sector was the worst performer on both indexes.

Chinese automaker Anhui Jianghuai Automobile on Monday signed a memorandum of understanding with Volkswagen to develop joint venture models in China. The companies had earlier set up a joint venture focused on developing electric vehicles.

In other markets

In Korea, the Kospi index gained 6.38 points, or 0.3%, to 2,514.49

In Taiwan, the Taiex Index dropped 43.86 points, or 0.4%, to 10,707.07

In Singapore, the Straits Times Index recouped 5.99 points, or 0.2%, to 3,442.35

In New Zealand, the NZX 50 slumped 34.61 points, or 0.4%, to 8,141.49

In Australia, the ASX 200 dipped 4.52 points, or 0.1%, to 5,984.25