Asian markets make a mixed closing on Tuesday

Asian markets made a mixed closing on Tuesday and while many of the indices managed to recover their early losses, the Chinese market ended with cut of over a percent. There was initially concern over the decline in crude prices that weighed on the sentiments, while the dollar rebounded from its first slide in seven days. Also, the traders waited to hear from Federal Reserve Chair Janet Yellen on US interest rate outlook. Japan’s market declined around a quarter percent even though the yen extended its decline for the eighth day, as more than 1,500 members traded ex-dividend on Tuesday. Australian shares hit one-month lows as trading resumed after the Easter break. However, Seoul shares finished modestly higher, aided by foreign investor flow into equities. Hong Kong market coming after the Easter break moved higher, as trade deficit narrowed during January to February period from last year as the pace of decline in imports outpaced the fall in exports.