Tokyo : Asian markets were mixed on Tuesday, with bargain-hunting lifting some bourses but Tokyo dropping again following heavy losses in the previous session due to a stronger yen. Wall Street provided another negative lead and Chinese dealers continued to fret about the restart of initial public offerings, which they fear could lead to a share glut. Tokyo fell 0.59 per cent, or 94.51 points, to 15,814.37 and Sydney closed down 0.15 per cent, or 7.9 points at 5,317.0. Shanghai ended flat, edging up 1.61 points to 2,047.32 and Hong Kong added 0.13 per cent, or 28.63 points, to 22,712.78. Seoul rose 0.32 per cent, or 6.16 points, to close at 1,959.44, despite a 0.23 per cent loss for Samsung Electronics shares after the company said it expects a steep drop in its fourth-quarter operating profit. After a broadly positive year for global markets 2014 has started sluggishly, but investors will eye the release Wednesday of minutes from the US Federal Reserve's most recent policy meeting. Analysts will seek clues about whether officials will further cut a stimulus programme this month, after reducing it by $10 billion a month to $75 billion at the December meeting. The three main indexes on Wall Street slipped on Monday, after numbers showing new factory orders in November hit their highest level since 1992 were offset by a slowdown in growth of the service sector last month. The Dow fell 0.27 per cent, the S&P 500 declined 0.25 per cent and the Nasdaq lost 0.44 per cent. In Tokyo the Nikkei extended the 2.35 per cent loss it suffered on Monday on profit-taking after the index surged 57 per cent last year. "Stocks have definitely entered a consolidation phase," Tatsunori Kawai , chief strategist at Kabu.com Securities , told Dow Jones Newswires. "The only question is how long it will last. "Fundamentals and central bank policies remain in place for more yen weakness over time, but the market could trade more or less flat for several sessions without sparking any concerns about the longer-term upward trend petering out." The dollar traded at 104.36 yen compared with 104.19 yen in New York on Monday, but is still well down from the five-year high of 105.41 yen seen at the start of last week. And the euro — which also touched a five-year high of 145.69 yen last week — bought 142.17 yen , against 142.02 yen in the United States . The euro also fetched $1.3622 from $1.3629 . Chinese shares saw a late rally to end in positive territory, but investors remain concerned that a fresh batch of companies preparing to list after a year - long hiatus could divert already tight cash supplies. Markets have also been spooked by data last week showing growth in manufacturing activity slowed in December. On oil markets New York's main contract, West Texas Intermediate for February delivery, rose 27 cents to $93.70 in afternoon trade. Brent North crude added 56 cents to $107.29 . Gold fetched $1,239.00 at 0700GMT compared with $1,237.60 late on Monday. In other markets: Taipei rose 0.14 per cent, or 12.29 points, to 8,512.3. Acer rose 3.06 per cent to Tw$18.55 while Taiwan Semiconductor Manufacturing Co fell 0.49 per cent to Tw$102.0. Wellington slipped 0.12 per cent, or 5.69 points, to 4,759.63. Telecom fell 1.28 per cent to NZ$2.31, Fletcher Building was down 2.76 per cent at NZ$8.45 and Trade Me ended 0.50 per cent higher at NZ$4.03. Manila fell 0.64 per cent, or 38.37 points, to 5,947.44. Bombay fell 0.45 per cent or 94.06 points to 20,693.24 points. India's Tata Steel fell 3.29 per cent to 394.80 rupees while local search engine Just Dial fell 5.41 per cent to 1,429.75 rupees . Kuala Lumpur slipped 4.07 points, or 0.22 per cent, to 1,825.11. British American Tobacco ended 1.7 per cent lower at 62.12 ringgit while IHH Healthcare shed 1.8 per cent to 3.82. Telekom Malaysia gained 1.7 per cent to close at 5.48 ringgit . Bangkok gained 2.56 per cent or 31.52 points to 1,262.36. Airports of Thailand rose 6.32 per cent to 151.50 baht , while Thai Airways added 5.65 per cent to 13.10 baht . Jakarta ended down 0.64 per cent, or 27 points, at 4,175.81. Indah Kiat Pulp & Paper fell 8.95 per cent to 1,170 rupiah , while palm oil producer Astra Agro Lestari lost 2.38 per cent to 21,500 rupiah . Singapore closed down 0.09 per cent, or 2.94 points, at 3,120.88. Transport company ComfortDelGro rose 2.29 per cent to Sg$2.01 while United Overseas Bank eased 0.62 per cent at Sg$20.72.
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