World markets were mixed in Tuesday’s trading with the main Asian indices closing slightly lower, but emerging markets showing signs of life as most of the world awaits the U.S. Federal Reserve meeting this week.
In Japan, the Nikkei 225 closed up 5.26 points, or .06%, to 9,159.98.
Japanese stocks were mildly volatile as, once again, the yen traded near a 15-year high ahead of meetings this week by the U.S. Federal Reserve and Bank of Japan. Japanese markets are closed tomorrow for a public holiday.
Exporters are typically damaged by a strong yen and today was no different as Honda Motor Co. dropped 2.3% and Mazda Motor Corp., Japan's second-largest car exporter, lost 2%.
Upon news of missing profit estimates, game software maker, Square Enix Holdings Company fell 5.3%.
The world leader in testers for memory chips, Advantest Corp., lost 1%.
On the upside, after announcing an increase in forecast for profit, Yokohama Rubber saw its shares climb 4.8%.
In China, gains in metal companies could not overcome the losses brought forth in coal miners and banks, sending the mainland index slightly lower in Tuesday’s trading.
The Shanghai Composite closed down points, or 8.59%, to 3,045.43.
Coal Laggards – After strong days on Monday, Shanxi Xishan Coal & Electricity Power dropped 2.4% today, as Datong Coal Industry gave back 3.7%.
Bank of Communications fell 0.8%
Leading the metal plays, Baoshan Iron & Steel rose 1.9%
The Hang Seng rose; climbing 18.48 points to close at 23,671.42.
Lending giant, China Construction Bank closed up 2.2%.
Morgan Stanley raised 12 month price estimates for China Citic Bank Corp. Shares climbed 1% after the news.
Elsewhere, the smaller markets were mixed on Tuesday.
South Korea's Kospi increased by 3.30% to 1,918.04.
Australia's S&P/ASX 200 closed up by .062% to 4,701.400.
India's Sensex lost .05%.
Malaysia's Kuala Lumpur Composite Index slipped back 3.09 points to 1,506.57.
Indonesia's Jakarta Composite Index decreased by 19.66 points.
Shenzhen Composite closed red; down .637% to 1,395.393.
Taiwan's Taiex lost 34.99 points.
Singapore's Straits Times Index closed up by .41%.
New Zealand's NZX 50 rose by .76%.
Philippine shares were up by 1.710%.
Shares in Thailand closed up by .233%.
