Asia report: Most markets finish session lower

Markets in Asia finished mostly lower on Tuesday, with investors ignoring the solid performance on Wall Street overnight, as news of the deadly bombing in Manchester came through during the session.

In Japan, the Nikkei 225 finished 0.33% lower at 19,612.28, as the safe haven yen climbed.

It was last 0.02% stronger on the greenback at JPY 111.28 per $1.

On the mainland, the Shanghai Composite lost 0.45% to settle at 3,061.72, while the smaller, technology-heavy Shenzhen Composite slid 2.12% to 1,789.47.

South Korea’s Kospi was up 0.33% at 2,311.74, while in Hong Kong the Hang Seng Index managed a 0.05% gain to 25,403.15.

Hong Kong-listed asset management firm Value Partners lost 4.33% amid news that HNA Group was negotiating to take a stake in the company.

The biggest airline in the special administrative region, Cathay Pacific, was forced to deny reports that it would cut 200 more jobs than the 600 it confirmed were being terminated on Monday.

Its shares were down 0.86%.

News that 22 people had been killed in a bombing at the Manchester Arena after a concert by US popstar Ariana Grande came through during the Asian session.

Police confirmed they were treating it as a terrorist incident.

Oil prices came off the gains seen on Monday, when hopes strengthened that OPEC-negotiated production cuts could be extended.

Brent crude was last down 0.77% at $53.46 per barrel, and West Texas Intermediate lost 0.71% to $50.77.

Australia’s S&P/ASX 200 closed down 0.19% to 5,760.19, while New Zealand’s S&P/NZX 50 dropped 0.3% to 7,384.70.

Both of the down under dollars were stronger on the greenback, with the Aussie advancing 0.29% to AUD 1.3336 and the Kiwi strengthening 0.61% to NZD 1.4206 per $1.