Stocks in Japan and Hong Kong ended with small losses after a choppy trading session Tuesday, as investors pondered whether the U.S. Federal Reserve will maintain its monthly bond purchases.
In Japan, the Nikkei 225 docked 25.84 points, or 0.2%, to 13,007.28
Hong Kong’s Hang Seng Index was down 0.02 points to 21,225.88
In Japan, broad losses in banks and telecommunication shares weighed on the market after two days of gains for the benchmark Nikkei Average.
Shares of Mitsubishi UFJ Financial Group Inc. fell 0.5%, Sumitomo Mitsui Financial Group Inc. declined 0.6% and KDDI Corp. lost 1.3%.
Even so, the market found support as some real-estate, insurance and brokerage stocks climbed alongside a few major exporters in the wake of the higher finish on Wall Street.
Mitsubishi Estate Co. rose 2%, Nomura Holdings Inc. climbed 2.1% and MS&AD Insurance Group Holdings Inc. added 2.6%, finding buyers after steep losses suffered earlier in the month.
Shares of Sony Corp. jumped 4.4% after a hedge-fund run by billionaire Daniel Loeb, which has called on the company to spin off its entertainment business, increased its stake in the firm.
Toyota Motor Corp. added 1.8% on reports the auto giant has raised its Japan sales target.
Sharp Corp. gained 1.2% after the Asahi Shinbun reported the company was considering producing photocopiers for Samsung Electronics Co., with a fresh investment from Samsung potentially a part of the deal.
Shares of market heavyweight Samsung rose 1.5% in Seoul, aiding gains for the Kospi.
Property stocks fell in Hong Kong but advanced on mainland Chinese bourses after official data showed home prices rose in a vast majority of the Chinese cities surveyed in May. According to Dow Jones Newswires calculations, the average home price increased 0.86% from the level in April, and was 5.32% higher than in May 2012.
China Overseas Land & Investment Ltd. fell 1.7%, and China Resources Land Ltd. dropped 1.2% in Hong Kong.
In Sydney, banks and retailers ended mostly lower, even as minutes from the Reserve Bank of Australia’s last meeting showed the central bank was ready to cut interest rates further, if need be.
National Australia Bank Ltd. dropped 1.5%, while Woolworths Ltd. declined 1%.
CHINA
The Shanghai Shenzhen CSI 300 took on 14.91 points, or 0.6%, to 2,418.75
Gemdale Corp. gained 2.6% in Shanghai, and the yuan-denominated A-shares of China Vanke Co. added 1.1% in Shenzhen.
Shares of major Chinese banks rose on mainland bourses following news that state-owned investment agency Central Huijin Investment Co. has increased its stakes in the four largest state-owned lenders.
The Shanghai-listed Industrial & Commercial Bank of China Ltd. added 1% and China Construction Bank Corp. climbed 0.4%.
In other markets;
Taiwan’s Taiex Index added 18.13 points, or 0.2%, to 8,011.02
Singapore’s Straits Times Index gathered 46.11 points, or 1.5%, to 3,229.55
Korea’s Kospi Index gained 17.52 points, or 0.9%, to 1,900.62
In New Zealand, the Exchange 50 Gross Index boosted 14.47 points, or 0.3%, to 4,462.10
In Australia, the S&P/ASX 200 lost 11.53 points, or 0.2%, to 4,814.35
