Asian indexes were mixed Tuesday, with automakers such as Honda Motor Co. and Toyota Motor Corp. helping Japanese shares rebound from early lows on hopes they may benefit from a workers' strike at General Motors, while Hong Kong and Shanghai stocks retreated after setting record-highs in the previous session.
In Tokyo, the Nikkei 225 stock index rose 0.6 percent to 16,401.72 points while the blue chip Hang Seng Index fell 121.65 points, or 0.46 percent, to 26,430.29.
Metals companies notched up impressive gains, underpinned by higher prices for commodities. Titanium sponge producer Sumitomo Titanium Corp., for instance, rose 11 percent. Trading companies also rose on strong prices for copper, aluminum and nickel, with Mitsui & Co. gaining 3.9 percent.
ELSEWHERE:
JAKARTA: Indonesia's main index sank 1 percent to 2,330.36 in moderate volume.
KUALA LUMPUR: Malaysia's Kuala Lumpur composite index fell just 0.81 points to 1,316.43 in heavy volume of 1 billion shares.
MANILA: Philippine shares climbed for the second straight day Tuesday, lifted by gains in select blue chips. The 30-company Philippine Stock Exchange Index inched 6.22 points, or 0.2 percent, higher to 3,440.67.
SEOUL: South Korean markets are closed Monday to Wednesday for the annual autumn harvest festival. Trade will resume Thursday.
SHANGHAI: Chinese stocks fell Tuesday as all major airlines fell by the 10 percent limit after Cathay Pacific and Air China pulled back from a plan to buy a stake in Shanghai-based rival China Eastern. The benchmark Shanghai Composite Index fell 1.1 percent to 5,425.88 after hitting a fresh intraday record high of 5,509.23 early in the session. The Shenzhen Composite Index shed 0.9 percent to 1,492.53.
SINGAPORE: Singapore Straits Times Index fell 0.4 percent to close at 3,624.82.
TAIPEI: Taiwan markets were closed Monday and Tuesday for the midautumn festival holiday. They reopen Wednesday.
WELLINGTON: New Zealand shares edged slightly higher Tuesday, as investors continued to await developments on M&A prospects that have driven the market in recent sessions. The benchmark NZX 50 index rose 0.21 percent to 4,241.67.
SYDNEY: Major miners BHP Billiton and Rio Tinto drove the Australian market to a record high as traders focussed on BHP's annual report due early Wednesday amid rumors of a significant resource upgrade. The benchmark S&P/ASX 200 close up 0.5 percent at 6483.0 after hitting a record high of 6509.6.
with files from other wire services
