Tuesday featured a surged by Chinese markets in reaction to economic data, while much of the rest of Asia traded uncertainly.
The Nikkei 225 Index pointed up 17.38 points, or 0.1%, to 17,442.40, after the Bank of Japan stood pat on monetary policy.
The Hang Seng Index in Hong Kong galloped 212.53 points, or 0.9%, to 23,147.07
Honda Motor shares dropped 2% On Monday, the car maker reported a 38% on-year increase in second-quarter operating profit and raised its full-year net profit guidance by 6%to 415 billion yen ($3.95 billion U.S.), citing strong Chinese demand.
Panasonic stock was also under pressure, plunging 6.5% to 1,026 yen ($9.80 U.S.) after it was initially untraded amid heavy sell orders.
The Japanese electronics maker cut its full-year sales and profit forecasts on Monday, after it brought forward an investment in a Tesla Motors battery plant. Profit forecasts were slashed by nearly 21% for the fiscal year ending March 31 to 245 billion yen ($2.33 billion U.S.).
Sony shed 0.7% on losses related to the sale of its battery business, amid a restructuring bid to focus on its core businesses such as gaming and entertainment.
The Japanese central bank held rates at -0.1% and the pace of bond purchases unchanged, but cut its core consumer inflation forecast for the year ending March 2018 to 1.5% from 1.7%
Chinese state-backed Cofco Meat tumbled as much as 24% in the first half hour of its first trading day before recovering some losses.
Shares of the meat supplier opened at HK$2, but traded at HK$1.68 as of late afternoon, down 16%.
Australian markets were weighed by a 0.5% drop in the energy sub-index and a 0.5% decline in the financials sub-index.
The Reserve Bank of Australia announced it would leave cash rates unchanged at 1.5%, as labour market indicators remained mixed and inflation pressures were subdued.
In Australia, Navarre Minerals was up 4.8%, giving back some gains after rising as much as 11.9%, its highest in over a year and a half.
The metal explorer announced it had received commitments from investors to raise A$747,000 ($568,420 U.S.) through 19.7 million fully-paid ordinary shares at an issue price of 3.8 cents a share.
Korean markets were also slightly down, as a political crisis involving President Park Geun-hye weighed on investor sentiment.
Media reports say prosecutors launched an investigation after allegations that Choi Soon-sil, a friend of President Park's, had influenced state affairs, gained access to classified material and even benefited through non-profit foundations
The won weakened against the dollar, fetching 1,141 won as of mid-afternoon Tuesday, above levels as low as 1,129 last week.
CHINA
Chinese markets traded higher after stronger-than-expected twin Purchasing Managers Index surveys gave investors a boost of confidence.
The CSI 300 in Shanghai recovered 22.77 points, or 0.7%, to 3,359.05
China's official PMI and the private Caixin manufacturing PMI were out on Tuesday morning. Both surveys showed strong results, with the official survey snapping two months of flat readings with a forecast-beating 51.2 reading for October.
The private Caixin survey also hit 51.2, showing the fastest rate of improvement since March 2011.
In other markets
In Korea, the Kospi dipped 0.8 points to 2,007.39
The Straits Times Index in Singapore slid 0.18 points to 2,813.69
In Taiwan, the Taiex Index faltered 17.42 points, or 0.2%, to 9,272.70
In New Zealand, the NZX 50 lost 30.19 points, or 0.4%, to 6,930.49
In Australia, the ASX 200 fell 27.26 points, or 0.5%, to 5,290.47
