World Markets traded relatively flat on Tuesday as the yen gave back some ground against the US Dollar and subpar data in China held the markets at bay.
Markets in Japan were relatively flat on Tuesday despite the yen sliding from near 15 year highs against the dollar amid concern Japanese authorities may begin taking action to weaken the currency.
In Japan, the Nikkei 225 closed down 23.78 points, or .25%, to 9,377.78.
Shares of Canon Marketing Japan Inc., a distributor of Canan products in Japan, plummeted 7.7 % upon announcing that nine month operating profit fell 48% on lower sales. Shares of Canon fell 1.1 percent% as well.
Food container manufacturer, FP Corp. was in the forefront of gainers as shares rallied 5.4% after boosting its planned full-year dividend to 110 yen a share from 104 yen.
Fuji Electronics Co. was another winner as shares hopped up 5.2% to 986 yen upon news that the Company said it will repurchase up to 9.2% of its shares.
In China, stocks slid moderately in Tuesday trading after China raised fuel costs by 3%. Also restricting possible upward movement was data that showed the number of home sales contracts continue to decline as the average price of new homes in Shanghai remained above 20,000 yuan per square meter
The Shanghai Composite closed down 9.88 points, or .32%, to 3,041.54.
China’s second largest oil refiner, PetroChina Co., saw shares rise 1% on the news of the gas price hike.
Ending a seven day winning streak which saw share price climb by nearly 10%, Moutai, China’s biggest producer of baijiu liquor by market value, fell 2.3% to 169.01 yuan.
Animal feed producer, Sichuan New Hope Agribusiness Co., gave back 4.3% to 19.90 yuan.
The Hang Seng fell; losing 26.67 points to close at 23,601.24.
Elsewhere, the smaller markets were mixed on Tuesday.
South Korea's Kospi gained .19% to 1,919.41.
Australia's S&P/ASX 200 closed down by .471% to 4,687.800.
India's Sensex lost .40%.
Malaysia's Kuala Lumpur Composite Index rose 5.50 points to 1,496.94.
Indonesia's Jakarta Composite Index climbed 10.61 points.
Shenzhen Composite closed green; up .173% to 1,362.980.
Taiwan's Taiex added 36.25 points.
Singapore's Straits Times Index gave back .62%.
New Zealand's NZX 50 dropped by .13%.
Philippine shares were down by .171%.
Shares in Thailand closed up by .383%.
