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Hong Kong - Asian markets were mixed Tuesday after a Chinese rate cut had fuelled a rally in the previous session, while Tokyo played catch-up following a long holiday weekend.
The yen made inroads against the dollar and euro after the Bank of Japan chief indicated he was concerned about the impact of a weak currency on the economy, while minutes showed policymakers split on last month's stimulus boost.
Tokyo rose 0.29%, adding 50.11 points to finish at 17 407.62, while Seoul was slightly higher, gaining 1.67 points to 1 980.21.
Sydney shed 0.50%, or 27.0 points, to end at 5 334.8, while Hong Kong slipped 0.21%, or 49.23 points, to 23 843.91.
Shanghai rallied 1.37%, or 34.72 points, to close at 2 567.60 - adding to a 1.85% rise Monday and the highest since August 2011.
Traders largely took their foot off the pedal after Monday's surge that came on the back of China's surprise decision last week to slash interest rates for the first time in two years, in a bid to kickstart growth.
Wall Street provided a positive lead Monday ahead of the release of US third-quarter growth figures later in the day as well as data on consumer confidence, home prices and business activity.
The Dow edged up 0.04% to its third straight record close and the S&P 500 gained 0.29%, also an all-time high. The Nasdaq tacked on 0.89%.
In foreign exchange markets the yen enjoyed a pick-up after BoJ governor Haruhiko Kuroda said policymakers were aware of the impact of its sharp decline on the world's number-three economy.
The currency has tumbled to multi-year lows against the dollar and euro since the central bank expanded its stimulus programme on October 31.
"We will monitor (market movements) carefully, including their impact on the actual economy," Kuroda was quoted by the Nikkei business daily as telling business leaders in a speech on Tuesday.
Also Tuesday minutes showed the bank's policy board split 5-4 in favour of the ramped-up asset-purchasing, with some warning a weak yen would batter small domestic firms owing to soaring import costs.
Others questioned its likely ultimate impact on boosting growth.
In afternoon trade the dollar was at ¥117.90, down from ¥118.25 in US trade, while the euro bought ¥146.48 compared with ¥147.10 in New York.
The single currency was also at $1.2421 against $1.2439.
However, the single currency is up from levels seen earlier Monday in Asia after the Ifo index of German business confidence rose this month, providing some welcome news from the eurozone's biggest economy which has shown signs of struggling recently.
"The downturn in the German economy has ground to a halt for the moment at least," said Ifo chief Hans-Werner Sinn.
Oil prices were mixed before a closely watched meeting of the Opec cartel, which will decide whether to cut output to prevent prices falling further.
US benchmark West Texas Intermediate for January delivery fell five cents to $75.73 while Brent crude for January fell 38 cents to $79.30 in afternoon trade.
Gold was at $1 200.71 an ounce, compared with $1,195.75 late Monday.
In other markets:
- Taipei ended marginally lower, dipping 6.09 points to 9 116.24.
Taiwan Semiconductor Manufacturing Co. rose 0.36% to Tw$139.0 while smartphone maker HTC fell 0.37% to Tw$135.0.
- Wellington fell 0.53%, or 29.01 points, to 5 442.68.
Fletcher Building slipped 1.6% to NZ$8.17 and Chorus lost 2.0% to end at NZ$2.00, while Spark shed 2.9% to NZ$3.07.
- Manila closed 0.52% lower, giving up 38.28 points to 7 286.85.
Philippine Long Distance Telephone Co. fell 1.07% to 2,960 pesos while Aboitiz Power closed 0.60% down at 41.60 pesos.
- Singapore rose 0.13%, or 4.46 points, to 3 344.99.
Singapore Telecom gained 0.26% to Sg$3.90 while public transport firm ComfortDelgro fell 2.71% to Sg$2.51.
- Jakarta ended down 0.44%, or 22.82 points, at 5 118.95.
Bank Negara Indonesia rose 0.86 percent to 5 875 rupiah, while state miner Aneka Tambang fell 1.00% to 990 rupiah.
- Malaysia's main stock index gained 0.26%, or 4.79 points, to close at 1 838.56.
Malayan Banking rose 0.74% to 9.59 ringgit, Public Bank added 0.77% to 18.44 while Sime Darby lost 0.10% to 9.70 ringgit.
- Bangkok rose 0.42%, or 6.66 points, to 1 596.80.
Bumrungrad Hospital gained 4.36% to 143.50 baht, while telecoms company True Corporation soared 6.14% to 12.10 baht.
- Mumbai fell 0.57%, or 161.49 points, to end at 28 338.05.
Diversified conglomerate ITC fell 4.99% to 355.70 rupees, while Bharat Heavy Electricals rose 2.95% to 265.20 rupees.
