Investing.com – Asian stocks were mixed on Tuesday, as shares in the financial sector led declines, while Japanese exporters remained under pressure from the strong yen.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.31%, South Korea's Kospi Composite gained 0.19%, while Japan’s Nikkei 225 Index shed 0.25%.
Earlier in the day, Japan’s finance minister Yoshihiko Noda reiterated that the country’s government would “act decisively” to curb the yen’s gains in the currency market “if needed”. He added that he was watching currency markets with “great interest”.
The Nikkei’s losses came as shares in the financial sector led declines, with shares in Japan’s second largest lender Mizuho Financial Group tumbling 1.65%, while rivals Nomura Holdings plunged 1.80%.
Shares in the auto sector were also on the decline after Nissan Motors’ CEO Toshiyuki Shiga warned that Japan’s auto industry faces a “huge crisis” over the strong yen. Shares in Nissan fell 0.95%, rivals Toyota saw shares decline 0.93%, while Mazda Motors saw shares tumble 1.88%.
Elsewhere, Australia’s S&P/ASX 200 fell 0.47%, as shares in ASX Ltd., Australia’s main stock exchange operator, tumbled 7.38%. The drop came a day after the Singapore Exchange agreed to buy ASX Ltd. for AUD 8.4 billion, as lawmakers raised concerns about the takeover.
Meanwhile, in Europe, equity markets were down after the open. The EURO STOXX 50 fell 0.21%, France’s CAC 40 shed 0.28%, the FTSE 100 declined 0.27% and Germany's DAX was down 0.03%.
Earlier in the day, data showed that Germany’s Gfk consumer climate outlook for November remained unchanged at 4.9, after rising for in the four preceding months. Analysts had expected the outlook for November to rise to 5.2.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.31%, South Korea's Kospi Composite gained 0.19%, while Japan’s Nikkei 225 Index shed 0.25%.
Earlier in the day, Japan’s finance minister Yoshihiko Noda reiterated that the country’s government would “act decisively” to curb the yen’s gains in the currency market “if needed”. He added that he was watching currency markets with “great interest”.
The Nikkei’s losses came as shares in the financial sector led declines, with shares in Japan’s second largest lender Mizuho Financial Group tumbling 1.65%, while rivals Nomura Holdings plunged 1.80%.
Shares in the auto sector were also on the decline after Nissan Motors’ CEO Toshiyuki Shiga warned that Japan’s auto industry faces a “huge crisis” over the strong yen. Shares in Nissan fell 0.95%, rivals Toyota saw shares decline 0.93%, while Mazda Motors saw shares tumble 1.88%.
Elsewhere, Australia’s S&P/ASX 200 fell 0.47%, as shares in ASX Ltd., Australia’s main stock exchange operator, tumbled 7.38%. The drop came a day after the Singapore Exchange agreed to buy ASX Ltd. for AUD 8.4 billion, as lawmakers raised concerns about the takeover.
Meanwhile, in Europe, equity markets were down after the open. The EURO STOXX 50 fell 0.21%, France’s CAC 40 shed 0.28%, the FTSE 100 declined 0.27% and Germany's DAX was down 0.03%.
Earlier in the day, data showed that Germany’s Gfk consumer climate outlook for November remained unchanged at 4.9, after rising for in the four preceding months. Analysts had expected the outlook for November to rise to 5.2.