Asian stocks were staging a comeback late Tuesday, after crude-oil prices pushed shares lower earlier in the day as investors worried about how increased motor-fuel costs might affect consumer spending in the U.S. Asia's largest export market, and other major economies.
In Tokyo, the benchmark Nikkei 225 index fell 3.60 points, or 0.02 percent, to finish at 17,451.77 while in Hong Kong, the blue chip Hang Seng Index edged just 16.23 points, or 0.08 percent, higher to 20,572.80.
Auto shares were mostly lower as expectations mounted they will forecast slower profit growth for the current financial year as sales slow overseas and increasing capital expenditures squeeze earnings.
Toyota Motor Corp., which said Tuesday it became the world's top auto seller in the first quarter, passing rival General Motors Corp. for the first time, closed down 0.54 percent to 7,370 yen (US$62.46). Honda shed 1.21 percent to 4,070 yen (US$34.49).
Chinese shares ended at a new high, led by a fresh inflow of funds from retail investors, despite declines in large capitalized companies on valuation concerns limited the market's upside.
The benchmark Shanghai Composite Index rose up 0.3 percent at 3,720.53, while the Shenzhen Composite Index rose 0.4 percent to 1,046.81.
Elsewhere:
BANGKOK: Thailand's shares closed lower with the Stock Exchange of Thailand's SET index losing 0.7 points, or 0.1 percent, to 685.48.
JAKARTA: Indonesian shares ended lower on profit taking in Bank Mandiri. The Jakarta Stock Exchange Composite Index lost 5.15 points, or 0.26 percent, to 1,981.57.
KUALA LUMPUR: Malaysia's shares dropped slightly as investors took profit after recent gains in blue chips and heavyweight. The Composite Index of 100 blue chips lost 3.86 points, 0.29 percent, to 1,317.50.
MANILA: Philippine shares dropped after the government posted a wider-than-expected first-quarter budget deficit, blaming poor revenue collection. The benchmark 30-company Philippine Stock Exchange Index shed 27.08 points, or 0.8 percent, 3,291.93.
MUMBAI: Indian shares ended sharply higher, buoyed by banking and automobile stocks after the central bank did not raise lending rates in its monetary policy review for the current financial year. The Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, gained 208.39 points, or 1.5 percent, to end at 14,136.72.
SINGAPORE: Singapore shares ended slightly lower as the market consolidated after recent gains and the overnight fall in Wall Street. The Straits Times Index lost 13.96 points, or 0.41 percent, at 3,374.52.
TAIPEI: Taiwan shares gained amid optimism about the rising profitability of companies with large China exposure. The Weighted Price Index of the Taiwan Stock Exchange rose 34.55 points, or 0.4 percent, to close at 8045.01 points.
WELLINGTON: New Zealand stocks fell, giving up gains made in the previous session ahead of the Anzac Day public holiday Wednesday and a central bank interest rate review Thursday. The benchmark NZX-50 index dropped 38.5 points, or 0.9 percent, to 4,163.11.
SYDNEY: Australia's share market ended a volatile session to finish slightly weaker, shrugging off a late morning rally inspired by weak inflation data. The benchmark S&P/ASX 200 index fell 21 points, or 0.3 percent, to 6,188.2.
With files from wire services
