Investors are also awaiting results of the U.S. Federal Reserve’s two-day policy meeting, which begins Tuesday after markets close in Asia. An interest-rate increase is unlikely, though officials’ view of the economy could offer clues about whether rates may move in June.
Traders said uncertainty about monetary policies weighed on stock markets.
“People are either taking bets off the table or reluctant to position themselves” before this week’s meetings, said Alex Furber, senior client services executive for CMC Markets in Singapore.
Japanese stocks fell on Tuesday as the yen retreated from a three-week low against the U.S. dollar, pruning the profit outlook for major exporters.
The Nikkei share average slipped 0.5 percent to end the day at 17,353.28.
Uncertainty over whether the Bank of Japan will deliver on expectations of further stimulus at its April 27-28 policy meeting pulled the yen back from a three-week high and dimmed the profit outlook for Japanese exporters.
China stocks erased earlier losses in afternoon trading on Tuesday, as a rally in healthcare and real estate shares offset initial gloom triggered by falling commodity prices in the wake of a government crackdown on speculation.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.5 percent, to 3,179.16, while the Shanghai Composite Index gained 0.6 percent, to 2,964.70 points.
Reference: Reuters, MarketWatch
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