Investor focus was on US inflation data due out later in the day while in Japan a weak yen helped fuel another dramatic rally
The mood was largely downbeat across Asia’s trading floors except in Tokyo where a weak yen and US tech rally boosted sentiment
Wall Street’s technology firms pushed most of Asia’s stock indexes higher on Tuesday though Hong Kong proved immune
The world No2 economy’s inconsistent performance and a gloomy global picture dragged Asian shares into the red on Monday
Investor mood remained downbeat at the end of the year’s first week of trading with China’s stuttering recovery and fading hopes of a rates turnaround weighing
Tokyo’s share average was hit by a post-earthquake shockwave with airline and construction stocks suffering
Investors are desperate for signals the US Fed is ready to backtrack on interest rates with technology stocks suffering the most
A split on figures for China’s manufacturing output and the long nervous wait for a turnaround on interest rates weighed on investors
Japan’s benchmark index was 28% ahead for the year while China’s markets were the world’s worst major performers
Rising hopes of a new year U-turn on US interest rates lifted the mood across the region’s trading floors
"A more dovish Fed means the likelihood of recession in 2024 has fallen considerably," one market analyst said
Beijing revealed new draft curbs on gamers’ spending which weighed on tech stocks though there were hopes of more upbeat US data