Asian markets finished mostly lower Tuesday, with South Korean shares logging their fourth session of losses on sustained worries about Pyongyang's nuclear test.
The Nikkei 225 Stock Average skidded 36.19 points, or 0.4%, to end the day at 9,310.81, while the Hang Seng Index in Hong Kong subsided 130.26 points, or 0.8%, to 16,991.56.
Metals shares led the way higher in Australia, with the benchmark S&P/ASX 200 closing up 1.4% after three sessions of declines.
In Seoul, the benchmark Kospi reversed early gains to close down 2.1% at 1372.04, after reports that North Korea was preparing additional short-range missile tests. On Monday, the benchmark index finished only 0.2% lower, rebounding from a drop of as much as 6.3% during the session.
Investor sentiment also weakened after news that South Korea decided to become a full member of a U.S.-led Proliferation Security Initiative to curb the illicit trade in weapons of mass destruction, said analysts.
Markets were also awaiting word on General Motors' fate. GM faces a series of deadlines this week. United Auto Workers officials will gather Tuesday in Detroit to hear how many more U.S. factory jobs GM will cut as it enters what could be its last week outside bankruptcy.
Japanese technology blue chips fell with Sharp closing down 0.6% and Sony lower by 1.2%, with all eyes on the yen level.
But real-estate stocks gained after their recent underperformance, while banks rose on hopes for a tentative economic recovery in Japan, with Mitsui Fudosan up 1.8% and Mizuho Financial Group up 0.4%.
Financial stocks finished lower in Seoul with KB Financial off 4.2% and Daewoo Securities down 3.2%, while technology and auto stocks slipped after recent gains, with Hyundai Motor off 2%.
Banks finished higher in Sydney, rebounding from losses on Monday, when the short-selling ban on the sector was lifted. Commonwealth Bank of Australia closed up 1.9%, Westpac added 2.5% and Suncorp rose 0.7%.
Taiwan shares were supported by gains in steel, food and plastics. China Steel gained 1.9% with Formosa Plastics up 5.1%.
Singapore Telecom fell 0.7% after the company's refusal to play a key role in merger plans between its Indian associate Bharti Airtel and South Africa's MTN. SingTel holds about a 30% stake in Bharti.
In New Zealand, Fisher & Paykel Healthcare shares fell 6.5%. The company reported a sharp rise in its full-year net profit but its expectations for fiscal 2010 was below some market estimates.
The euro was lower in currency trade with some U.S. dollar bids before a scheduled U.S. Treasury sale of two-year notes Tuesday. The euro was recently at $1.396 U.S., vs. $1.399 U.S. in late North American Trade Friday and at 132.15 Japanese yen, after 132.43 yen on Friday. Currencies trading was closed Monday in New York.
The U.S. dollar bought 94.64 Japanese yen, down from 94.66 yen in North America late Friday. The greenback rose to 1,260 South Korean won, from Friday's 1,248 won.
Spot gold was down $8.20 from New York Monday, at $948.30 U.S. a troy ounce, while front-month Nymex crude-oil futures were down $1.09 on Globex, at $60.58 U.S. a barrel.
CHINA
Resource and energy stocks were mixed with Rio Tinto up 2.2%, as its iron-ore Chief Executive Sam Walsh said China had shown signs of economic improvement and, in terms of iron ore, Rio Tinto would be able to quickly respond once markets improved. He added the miner would determine any changes to terms of a proposed deal with Chinalco after Rio Chairman Jan du Plessis met shareholders, confirming du Plessis would meet government representatives and shareholders in Australia this week.
Elsewhere:
Shanghai’s CSI 300 Composite Index lost 32.95, or 1.2%, to 2,719.76
Singapore’s Straits Times Index slid 28.67 points, or 1.3% to 2,238.79
South Korea’s Kospi index eased off 28.86 points, or 2.1% to 1,372.04
Taiwan’s Taiex index fell 51.35 points, or 0.8% to 6,683.11
New Zealand’s NZX 50 Index moved 6.12, or 0.2%, lower, to 2,734.08
Australia’s S&P/ASX 200 was up 50.5 points, or 1.4% to 3,788.40
