Asia markets were mixed on Tuesday, with traders likely taking to the sidelines to await Wednesday's closely watched monetary policy decisions due in the U.S. and Japan.
Markets in Japan returned from holiday Tuesday, with the Nikkei 225 faltering 27.14 points, or 0.2%, to 16,492.15
In Hong Kong, the Hang Seng index slid 19.59 points, or 0.1%, to 23,530.86
Australian markets recovered from Monday, with most sectors gaining. The energy sector, however, bucked the trend to close down 0.9%.
The securities market Down Under suffered technical glitches on Monday that first delayed the open, then in the afternoon suspended trade for the rest of the session.
Analysts attributed the modest market movements to the anticipation surrounding the monetary policy decisions from the U.S. Federal Reserve and the Bank of Japan, both due Wednesday.
The Japanese yen strengthened to 101.66 against the U.S. dollar Tuesday afternoon local time, compared with levels above 102.00 last week.
Oil producers of the Organization of the Petroleum Exporting Countries were set to meet informally next week and the last few weeks saw increased volatility in oil prices amid speculation of a supply freeze deal. But analysts now reckon such a deal would likely not be forthcoming.
In company news, shares of troubled Japanese airbag maker Takata tumbled 11.6% following media reports that cited people familiar with the matter as saying some of the company's bidders were considering the possibility of some form of bankruptcy proceedings for Takata.
The company has been caught up in one of the biggest ever recalls in the automotive industry over faulty airbags.
In other markets
In Shanghai, the CSI 300 reversed 5.72 points, or 0.2%, to 3,257.40
The Straits Times Index in Singapore poked up 2.55 points, or 0.1%, to 2,854.69
The Kospi index in Korea gained 9.93 points, or 0.5%, to 2,025.71
In Taiwan, the Taiex index added 8.7 points, or 0.1%, to 9,161.58
In New Zealand, the NZX 50 tacked on 30.32 points, or 0.2%, to 7,308.45
In Australia, the ASX 200 gained 8.8 points, or 0.2%, to 5,303.57
