Asian stocks closed mostly lower Tuesday as an insider-trading probe at Nomura Group pressured shares in Japan, with the Nikkei logging its first loss in five sessions.
The Nikkei 225 index dropped 1.1 percent to 13,547.82. The Hang Seng rose 0.9 percent to 24,939.2. The Shanghai Composite Index rose 1 percent to 3,147.8 after dropping more than 3 percent.
In Tokyo, shares of Nomura Holdings Inc. ended 3.9% lower after a Nikkei newspaper report that an employee and two others are being investigated on suspicion of insider trading that earned the trio a 40 million yen ($388,000) profit. Japan's financial watchdog, the Securities and Exchange Surveillance Commission, has launched an investigation, the Nikkei reported. Nomura confirmed in a statement Tuesday that one of its employees is under investigation by the securities regulator over the alleged insider trading.
Shares of Nippon Steel Corp. slid 3.2% after the Nikkei newspaper reported the company will ask customers to accept a nearly 40% increase in prices of its core products beginning this month to offset higher raw material prices.
Nissan Motor Co. and Isuzu Motors Ltd. led a broad retreat among automotive shares following wire reports that Nikko Citigroup had reduced its outlook on the companies, citing risks of an earnings downturn because of high material costs, yen strength and weak U.S. sales. Nissan shares fell 3.6% and Isuzu fell 4.4%.
Shares of Honda Motor Co fell 2.7%, reversing part of their 8.8% surge in the previous session, while Toyota Motor Corp. fell 2.6%.
Elsewhere:
Sydney's S&P/ASX 200 ended 0.6% lower.
South Korea's Kospi dropped 0.7%.
Singapore's Straits Times Index climbed 0.5%.
Taiwan's Weighted Price Index fell 0.5%.
with files from other wire services
