Asian shares mixed on Tuesday as Chinese stocks dip modestly while Nikkei buoyed by weaker yen

Francesca Washtell
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Shanghai Composite Index Rebounds On Wednesday
A mixed day for Asian stockmarkets saw Japan's Nikkei make gains while Chinese stocks dipped modestly (Source: Getty)

Chinese stocks slid on Tuesday as a weaker yen buoyed Japanese stocks after a public holiday on Monday.

On a mixed day for Asian markets, Chinese decreased gains they made on Monday with the Shenzen composite down 0.41 per cent and the Shanghai composite lower at 0.78 per cent.

Hawkish comments from two US Federal Reserve officials that they supported the case for an interest rate hike "sooner rather than later" pushed down Asian shares, reported Reuters.

San Francisco Federal Reserve Bank President John Williams told Market News International that a rate hike could be seen by April or June, while Atlanta Fed President Dennis Lockhart also indicated a hike could be seen as soon as April.

Japan's Nikkei 225 opened higher on Tuesday after being closed for a public holiday on Monday.

The stock index was up 1.94 per cent by 3pm local time, but reached as high at 2.1 per cent during mid-morning trading, getting tailwinds from a weaker yen.

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