Asia report: Markets finish mixed after Wall Street losses

Markets in Asia finished mixed on Tuesday, taking their cue from a lower close on Wall Street, as traders reacted to the news that diplomatic relations were breaking down in the Middle East between Qatar and some of its neighbours.

In Japan, the Nikkei 225 finished down 0.95% at 19,979.90, as the yen strengthened agianst the greenback.

It was last ahead 0.99% at JPY 109.36.

On the mainland, the Shanghai Composite was up 0.35% at 3,102.33, while the Shenzhen Composite added 0.55% to 1,810.80.

South Korea’s Kospi was closed for the Memorial Day holiday, while the Hang Seng Index in Hong Kong added 0.52% to close at 25,997.14.

“It has been a quiet overnight session ahead of what could be a stormy Thursday, with the European Central Bank, UK election and Comey's testimony all occurring on the same day,” noted National Australia Bank currency strategist Rodrigo Catril, of the quieter Asian session.

Markets were also still reacting to the news that diplomatic ties between Qatar and a group of neighbours led by Saudi Arabia.

Oil prices were lower, with Brent crude last down 0.35% at $49.30 per barrel and West Texas Intermediate losing 0.36% to $47.23.

In Australia, the S&P/ASX 200 lost 1.52% to settle at 5,667.47, led lower by the major banks and resource producers, while energy and utilities were also well into the red among the subindexes.

New Zealand’s S&P/NZX 50 lost 0.07% at 7,494.97, led lower by Sky Network Television, which was down 3.6%.

The down under dollars finished mixed, with the Kiwi last ahead 0.5% at NZD 1.3939 against the greenback, while the Aussie weakened 0.02% to AUD 1.3361.