Asian markets traded broadly lower on Tuesday, led by declines in Japan and China, as investors await further cues from next month's U.S. Federal Reserve monetary policy meeting.
In Japan, the Nikkei 225 dropped 155.84 points, or 0.9%, to 16,498.76.
In Hong Kong, the Hang Seng index gained 21.40 points, or 0.1%, to 19,830.43.
In the currency markets, the Japanese yen strengthened, with the dollar-yen pair at 109.22, compared with levels a tad above 110 in the Asia session Monday. Reuters had reported earlier that Japan's Finance Minister said that the pair moving by five yen within two days would be considered a "one-sided move, but that Japan doesn't plan to devalue the yen sharply or consistently.
The yen's rise overnight came despite weaker economic data, with figures from the Japanese finance ministry on Monday showing exports in the country for April dropped 10.1% on-year in April, while imports dropped 23% on-year.
Reserve Bank of Australia Governor Glenn Stevens told the Trans-Tasman Business Circle that the central bank is committed to a flexible inflation-targeting monetary policy.
The Australian dollar traded at $0.7194 U.S., and at least one expert said the Aussie needed to close "below key support at $0.7210 for $0.7000 to come into play."
Energy plays were mostly lower, with Santos shares down 1.9%,Oil Search down 1.5% and Inpex lower by 1.8%
In other markets
The CSI 300 Index swooned 23.67 points, or 0.8%, to 3,063.56
In Korea, the Kospi Index faded 17.57 points, or 0.9%, to 1,937.68
In Singapore, the Straits Times Index shed 16.7 points, or 0.6%, to 2,750.23
In Taiwan, the Taiex Index subtracted 43.78 points, or 0.5%, to 8,300.66
New Zealand’s NZX 50 slipped 35.12 points, or 0.5%, to 6,872.66
The ASX 200 moved lower 23.37 points, or 0.4%, to 5,295.57
