Japanese and South Korean shares ended lower Tuesday, erasing gains from earlier in the session, as investors sold export-related shares such as Toyota Motor and Samsung Electronics after hawkish comments from a Bank of Japan spokesman spurred a rally in Asian currencies.
Japan's Nikkei 225 Average shed 37.83 points, or 0.23 percent, to finish at 16,265.76 while Hong Kong's Hang Seng Index gained 241.46 points, or 1.3 percent, to 18,944.19.
Prices rose in early trading, helped by U.S. stock gains overnight, but ended up in negative territory as traders took profits.
Mizuo Financial Group slipped 2.12 percent to 829,000 yen (US$7,178; euro5,393), while Mitsubishi UFJ Financial Group fell 1.35 percent to 1,460,000 yen (US$12,642; euro9,498). Sony Corp. fell 0.87 percent to 4,510 yen (US$39.05; euro29.34).
Elsewhere:
BANGKOK: Financial markets in Thailand were closed for the king's birthday.
JAKARTA: Indonesian shares jumped to a record high amid foreign investor demand for telecommunication and mining blue chips. The Jakarta Stock Exchange Composite index closed 45.523 points or 2.6 percent up to end at 1,776.758.
KUALA LUMPUR: Malaysian shares climbed, driven by foreign interest in blue chips and local retail buying of smaller stocks. The Kuala Lumpur Composite Index of 100 blue chips added 1.1 percent to 1,088.96 points.
MANILA: Philippine shares advanced for the second straight session as investors picked bargain stocks. The benchmark 30-company Philippine Stock Exchange Index gained 12.79 points, or 0.46 percent, at 2,808.09.
MUMBAI: Indian shares ended higher for the fifth straight session, led by Tata Steel and technology counters on continued buying by local and overseas funds. The benchmark index Sensex gained 63.32 points, or 0.5 percent, to close at 13,937.65.
SEOUL: South Korean stocks plunged, hurt by a sharp rise in the South Korean currency against the U.S. dollar, which tends to hurt exporters. The Korea Composite Stock Price Index, or Kospi, fell 0.4 percent, or 5.87 points, to 1,420.59.
SHANGHAI: Chinese stocks surged to hit another five-year high, as gains in the property sector based on expectations for a stronger Chinese currency offset selling of bank shares. The Shanghai Composite Index, which tracks both A and B shares, gained 0.5 percent to 2,173.28 points -- its highest close since July 20, 2001 when it settled at 2,179.62. The Shenzhen Composite Index rose 0.7 percent to 514.80 points.
SINGAPORE: Singapore shares rose to a record high close for the second straight session, driven by strong gains in property stocks. The Straits Times Index surged in late afternoon trading, ending up 51.3 points, or 1.8 percent, to close at 2,901.99.
SYDNEY: Australian stocks inched higher on demand for key mining stocks on the back of higher zinc and copper prices overnight. The benchmark S&P/ASX200 index rose 1.6 points to close at 5,426.5.
TAIPEI: Taiwan shares fell slightly as investors took profit after recent gains, breaking a four-session winning streak. The Weighted Price Index of the Taiwan Stock Exchange dropped 37.11 points, or 0.5 percent, to 7,609.9.
WELLINGTON: New Zealand shares edged up with the benchmark NZSX-50 index rising 14.02 points, or 0.4 percent, to close at 3,849.07.
With files from wire services
