Stocks in Asia mostly rose on Tuesday, though gains were capped amid potentially dashed hopes that central banks could take action to combat the impact of the coronavirus outbreak.
The Nikkei 225 lost 261.25 points, or 1.2%, to 21,082.73.
The Japanese yen strengthened to 107.93 per U.S. dollar after an earlier low of 108.53.
In Hong Kong, the Hang Seng Index docked 6.86 points to 26,284.82.
The Reserve Bank of Australia announced on Tuesday a cut in the cash rate by 25 basis points to 0.5%, a new record low. Following that decision, the Australian dollar jumped to $0.6549 after seeing an earlier low of $0.6507.
The narrowing of gains regionally came following a Tuesday Reuters report that the Group of Seven industrial powers is expected to issue a statement on Tuesday or Wednesday on countering the impact of the coronavirus outbreak.
At present, that did not include any specific call for new government expenditure or coordinated interest rate cuts by central banks, Reuters reported citing a G-7 official with direct knowledge of the deliberations.
That came as investors awaited a conference call between global financial ministers and central bankers to coordinate the financial and economic response to the coronavirus.
The teleconference call will be led by U.S. Treasury Secretary Steven Mnuchin and U.S. Federal Reserve Chairman Jerome Powell and is expected to happen on Tuesday at 7 a.m. EST. Representatives of the Group of Seven industrialized nations will attend the call.
In other markets
The CSI 300 gained 21.7 points, or 0.5%, to 4,091.36.
In Korea, the Kospi index improved 11.64 points, or 0.6%, to 2,014.15
In Taiwan, the Taiex regained 157.26 points, or 1.4%, to 11,327.72
In Singapore, the Straits Times Index rebuilt 11.84 points, or 0.4%, to 3,019.56
In New Zealand, the NZX 50 re-stocked 242.88 points, or 2.2%, to 11,346.21
In Australia, the ASX 200 re-strengthened 44.17 points, or 0.8%, to 6,391.52
