Asia markets closed mostly lower on Tuesday, weighed by declines in the energy sector as oil prices continued to tumble.
In Japan, the Nikkei 225 dropped 114.55 points, or 0.6%, to 17,750.68,
The Hang Seng index in Hong Kong lost 148.66 points, or 0.8%, to 19,446.84
In Japan, financial plays traded mixed after earlier halting their losing streak since Friday, when the Bank of Japan surprised markets with a negative interest rate policy move. Negative rates could affect their profit levels.
Mitsubishi UFJ, trimmed gains to close 0.4% higher. SMFG gave up gains of nearly 0.5% to finish 0.7% lower, while Mizuho Financial was up 0.2%.
Mitsubishi Electric, a core business of the Mitsubishi Group, released its consolidated earnings results for April-to-December 2015, the first nine months of its fiscal 2016. The results showed consolidated net sales for the period increased by 4% on-year.
At the same time, reports said the chief financial officer of one Japan's largest trading houses, Mitsubishi Corporation, said he does not expect a major recovery in resource prices for the next two to three years.
Shares of Mitsubishi Electric closed up 4.7%, while Mitsubishi Corp. shares were down 2.5%
Elsewhere, Hong Kong gaming stocks gave up some gains to trade mixed, with shares of Wynn Macau up 0.1%, after trading as much as 1.6% higher earlier, Sands China down by 0.7% and Galaxy Entertainment lower by 0.4%. Yesterday, reports showed that Macau's gaming revenues for January declined for the 20 straight months, down 21.4% on-year to $2.33 billion U.S.
Australian markets after the Reserve Bank of Australia's decision to keep interest rates on hold at a record low of 2%. The energy sector saw the biggest loss, slipping 3.2%, following extended losses in oil prices.
Energy plays across the region were mostly down, with Santos losing 4.3%, Oil Search down 2.8% and Woodside Petroleum lower by 3.3%. Inpex was 4.9% lower, while Japan Petroleum declined 3.7% and S-Oil closing down 2.1%
Hong Kong-listed shares of CNOOC closed lower by 1.1% while A-shares of China Oilfield closed up 2.7%, while China Petroleum gained 0.93%.
Elsewhere, resource stocks in Australia finished mostly down, with Rio Tinto falling 3.7% and BHP Billiton off 2.2%. Sandfire Resources retraced early gains of as much as 2.6% to decline by 1%
In other markets
The CSI 300 recovered 60.29 points, or 2.1%, to 2,961.33
In Singapore, the Straits Times Index backpedaled 23.18 points, or 0.9%, to 2,579.23
The Kospi in Korea subtracted 18.22 points, or 1%, to 1,906.60
Taiwan’s Taiex index slid 25.72 points, or 0.3%, to 8,131.24
In New Zealand, the NZX 50 added 5.59 points, or 0.1%, to 6,180.08
In Australia, the ASX 200 index sagged 50.27 points, or 1%, to 4,993.32
