Japan stocks declined on Tuesday, the last trading day of 2014, but gave the year a bullish end, marking a third straight year of gains.
The Nikkei 225 tumbled 279.07 points, or 1.6%, to 17,450.77. However, the index climbed 7.1% this year. Japanese stock markets are closed for trade on the day of New Year’s Eve.
In Hong Kong, the Hang Seng index scaled back from yesterday’s 400-point-plus gains, docking 272.08 points, or 1.1%, 23,501.10,
The yen strengthened substantially against the U.S. dollar, trading at ¥119.40 from ¥120.66 in the previous session.
On the same day, the Japanese government approved a plan to cut corporate taxes by 2.51 percentage points from April and then by another 0.78 percentage points in the following year, according to various reports.
Chinese smartphone maker ZTE Corp. 2%, amid news it plans to spend over one billion yuan ($161 million U.S.) on marketing and branding in 2015.
Iron-ore extractor China Zhongsheng Resources Holdings Ltd. tumbled 4.8%, as it forecast a swing to loss for 2014.
In Seoul, the Kospi Composite Index closed down 0.6% on the last trading day of the year, while capping an annual loss of 4.8% for 2014.
In other markets;
Shanghai’s CSI 300 index inched up 2.10 points, or 0.1%, to 3,457.55.
In Singapore, the Straits Times Index fell 12.27 points, or 0.6%, to 3,366.11
The Taiex index in Taiwan lost 17.85 points, or 0.2%, to 9,268.43
Korea’s Kospi index moved lower 12.27 points, or 0.6%, to 1,915.59
New Zealand’s Exchange 50 fell 15.13 points, or 0.3%, to 5,577.20
Australia’s S&P/ASX 200 faded 57.15 points, or 1%, to 5,416.63
