Asia Fades with Good Trade Vibes

Stocks in Asia mostly slipped on Tuesday amid uncertainty about the future of U.S.-China trade relations.

The Nikkei 225 backtracked 538.71 points, or 2.4%, to 22,036.05,

In Hong Kong, the Hang Seng Index gained 78.4 points, or 0.3%, to 27,260.44

Shares of automaker Nissan slipped 1.2% following a report that the company's external board is set to meet today to discuss a replacement for arrested former Chairman Carlos Ghosn. The Sankei newspaper reported that Tokyo prosecutors were planning to arrest Ghosn amid new claims that he understated his income.

The Japanese yen, widely seen as a safe-haven currency, was at 113.07 against the U.S. dollar after seeing a low of 113.66 earlier.

In Australia, indexes tumbled, as the heavily weighted financial sub-index slipped 1.2%. Australia and New Zealand Banking Group shed 1.4%, Westpac fell 1.4%, National Australia Bank slid 0.9% and Commonwealth Bank of Australia declined by 1.1%

The Reserve Bank of Australia announced earlier than it was keeping the cash rate unchanged at 1.5%, with the central bank's Governor Philip Lowe saying in a media release that "the low level of interest rates is continuing to support the Australian economy."

The Australian dollar traded at $0.7377 U.S. after touching highs around $0.739 yesterday.

In other markets

In Shanghai, the CSI 300 added 6.76 points, or 0.2%, to 3,267.71

In Taiwan, the Taiex index lopped off 54.33 points, or 0.5%, to 10,083.54

In Korea, the Kospi index slipped 17.58 points, or 0.8%, at 2,114.75

In Singapore, the Straits Times Index declined 22.83 points, or 0.7%, to 3,167.79

In New Zealand, the NZX 50 subtracted 10.33 points, or 0.1%, to 8,865.76

In Australia, the ASX 200 slid 58.02 points, or 1%, to 5,713.15