Asian Shares Mixed Amid Geopolitical Tensions

(RTTNews) - Asian stocks turned in a mixed performance on Tuesday as geopolitical tensions intensified and rate jitters persisted.

Rising tensions in the Middle East and Russia boosted crude oil prices and brought inflation concerns to the fore.

Investors kept a close eye on upcoming inflation data and comments from central bank officials for additional clues on the rate outlook.

Chinese markets ended on a positive note after reports emerged that regulators are pushing banks to speed up approvals of new loans to private property developers.

China's Shanghai Composite index inched up 0.17 percent to 3,031.48 while Hong Kong's Hang Seng index jumped 0.88 percent to close at 16,618.32.

Japanese markets fluctuated before finishing on a flat note. The Nikkei average ended marginally lower at 40,398.03 while the broader Topix index edged up 0.11 percent to 2,780.80.

SoftBank Group gave up 1.2 percent, Fast Retailing fell 1.6 percent and Nissan Motor slumped 3.9 percent to lead losses while chipmaking equipment giant Tokyo Electron rose half a percent.

Detailing a new mid-term plan, Nissan said it plans to cut the costs of manufacturing electric vehicles by nearly a third by fiscal 2030.

Seoul stocks advanced to end a two-session losing streak as semiconductor shares surged. The Kospi average climbed 0.71 percent to 2,757.09.

Samsung Electronics, the world's biggest memory chipmaker, rallied 2.2 percent and peer SK Hynix jumped 4.3 percent while Hanmi Semiconductor, a local equipment firm, soared 15.5 percent.

Australian stocks closed lower, dragged down by technology and resource stocks. The benchmark S&P/ASX 200 dropped 0.41 percent to 7,780.20 while the broader All Ordinaries index settled 0.43 percent lower at 8,036.70.

Heightened geopolitical tensions dented sentiment after the Islamic State group, also known as ISIS, claimed responsibly for Friday's deadly assault on a concert venue in Moscow.

Gaza was also in focus after the United States abstained from voting on a UN Security Council resolution demanding an immediate ceasefire.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index slipped 0.29 percent to 12,031.81 on concerns over the oil price flare up in recent sessions on supply concerns.

U.S. stocks fluctuated before ending lower overnight after China introduced new guidelines that have significant implications for major U.S. technology firms, including Intel, AMD and Microsoft.

On the data front, a report showed that sales of new U.S. single-family homes unexpectedly fell in February.

The S&P 500 and the tech-heavy Nasdaq Composite both shed around 0.3 percent, while the Dow slipped 0.4 percent.