Asian stocks staged a modest correction on Tuesday, ending mostly lower, with Japanese markets little changed as investors booked profits on Honda and other blue chips after strong prior-session gains.
In Tokyo, the benchmark Nikkei 225 stock index slipped 12.99 points, or 0.07 percent, to finish at 17,656.84 while in Hong Kong, the blue chip Hang Seng Index fell 190.29 points, or 0.9 percent, to 20,706.35.
Losers included Honda Motor Co., which fell 0.49 percent to 4,090 yen (US$34.08) and TDK Corp., which posted a 0.98 percent slip to 10,080 yen (US$84.00), while gainers included Mitsubishi UFJ Financial Group Inc., which added 2.33 percent to 1.32 million yen (US$11,000).
Elsewere:
CHINA: Chinese shares surged to a new record Tuesday following a weeklong May Day national holiday, buoyed by strong interest in real estate and retail shares. The benchmark Shanghai Composite Index gained 2.8 percent to 3,950.01, its highest-ever closing level. The Shenzhen Composite Index rose 4.1 percent to 1,108.20, also a record closing high.
WELLINGTON: New Zealand stocks hit a new record high Tuesday, buoyed by corporate activity and strong performances from blue chip stocks. The benchmark NZX-50 rose 20.64 points, or 0.5 percent, to 4,223.23.
SYDNEY: Australian shares retreated Tuesday, with resources stocks leading shares lower and investors waiting for the federal budget to be announced after the bourse closed, with major spending announcements expected from the government. The benchmark S&P/ASX 200 closed down 31.3 points, or 0.5 percent, at 6,304.4 after hitting an intraday record of 6,341.1 in early trading.
With files from wire services
