Asian markets ended on a mixed note Tuesday after a roller-coaster ride, with some of them struggling to hang on to early gains while investors searched for directional cues.
The benchmark Nikkei 225 index slipped 0.04 percent to 14348.37 while the blue-chip Hang Seng Index edged up about 0.1 percent to 23,057.99.
Steel companies, hit with ratings downgrades by some brokerages, were among the day's biggest decliners. JFE Holdings, Inc. ended down 1.03 percent and Nippon Steel Corp. dropped 1.25.
Banking stocks were firm following earnings overnight by Lehman Brothers that were largely within expectations, with Mizuho Financial Group and Sumitomo Mitsui Financial Group gaining.
Major exporters also struggled on a faltering U.S. dollar. Toyota Motor Corp. lost 0.9 percent, while rival Honda Motor Co. shed 1.8 percent.
In China, the benchmark Shanghai Composite Index dropped 2.8 percent to 2,794.75.
Elsewhere:
New Zealand's NZX 50 index finished 0.1% lower at 3,404.57.
Taiwan's Weighted index rose 0.4% to 8,201.79.
South Korea's Kospi lost 0.6% to 1,750.71, after opening higher.
Australia's S&P/ASX 200 index gained 1% to 5,422.70 in the volatile session, on the back of after it dropped as low as 5,310.10 earlier in the day, on a late recovery in banking stocks.
with files from other wire services
