Asian markets ended mixed after a volatile session on Tuesday, with Shanghai-listed stocks extending losses into a fifth day on worries that the central bank will continue to tighten monetary policy.
The benchmark Nikkei 225 Stock Average rose 1.5 percent to 11,964.2 after a 450-point drop Monday while Hong Kong's Hang Seng index gained 1.4 percent.
Leading the recovery in Tokyo, shares of Mitsubishi UFJ climbed 2.5%, while Mitsui Sumitomo Insurance Co. surged 6.6%
The Shanghai Composite, which nearly doubled in 2007, has declined 30% to date in 2008. The Shenzhen Composite, which soared more than 160% in 2007, has lost more than a quarter of its value.
Speaking at a news conference at the end of the NPC, China's legislature, which meets annually, Premier Wen Jiabao reiterated that fighting inflation was a top priority for Beijing. He also said China wouldn't revalue the yuan to ease inflationary pressures.
Elsewhere:
New Zealand's NZX 50 index slipped 0.3% to 3,418.63.
Taiwan's Weighted index rose 0.7% to 8,057.82.
South Korea's Kospi wavered between positive and negative zones, before ending up 0.9% at 1,588.75.
Australia's S&P/ASX 200 ended little changed at 5,086.10, also giving up early gains, while
with files from other wire services
