Asian markets end lower on Tuesday

Most of the Asian equity indices reversed their initial gains and snapped the day’s trade in the red on Tuesday despite impressive gains at the start of the week and a positive lead from Wall Street, inspired by takeover news and better-than-expected Japanese data after a torrid July and August. Chinese shares closed down 0.71 per cent, with banks and property developers leading the decline amid renewed worries over local government debt and Hong Kong stocks slipped 0.24 percent in the trade after the big rally of a day earlier ran out of steam. However, Japanese shares closed up 0.23 percent, lifted by a continued rally on Wall Street with sentiment brightened by Google’s plan to buy cell phone maker Motorola Mobility, although worries over the impact of a strong yen capped gains.