By Chris Oliver, MarketWatch
HONG KONG (MarketWatch) -- Major stock markets ended mixed Tuesday in Asia, with export-related shares such as Samsung Electronics Ltd. and Canon Inc. pressured after weak U.S. new-home sales raised concerns that the pace of economic growth could be slowing in the region's most important export market.
Tokyo issues also felt pressure in the first day during which many shares traded without year-end dividend entitlements. A bout of late-session selling sent the Nikkei 225 Average /quotes/zigman/5986735 JP:NIK -7.32% down 156.91 points, or 0.9%, to 17,365.05, while the broader-market Topix index ended down 1% at 1,723.86.
About 90% of Nikkei 225 constituents were to go ex-dividend from Tuesday, accounting for about 90 points of the decline in the Japanese benchmark, according to Yoji Takeda, head of Asian equity management at RBC Investment Management Asia.
"We are also seeing some switching out of slower-moving stocks. Volume is pretty thin, so the market tends to be volatile," Takeda said.
"In terms of settlement, today is the first day of the new fiscal year."
Among higher-yielding Tokyo issues to go ex-dividend Tuesday, NTT DoCoMo /quotes/zigman/234656 JP:9437 -4.07% /quotes/zigman/258237/quotes/nls/dcm DCM -2.94% moved down 1.4% and NEC Electronics Corp. /quotes/zigman/326601 JP:6723 -11.69% fell 1.2%.
Meanwhile, China's Shanghai Composite Index reversed a shaky start to end 0.5% higher at 3138.83, marking its fifth straight record close. Among gainers in Shanghai-listed shares, Air China added 5.9% and Tsingtao Brewery was up 1.2%.
Hong Kong's Hang Seng Index /quotes/zigman/2622475 HK:HSI -2.54% broke a six-session winning streak to close 0.3% lower, declining 59.06 points to 19,706.79. The China Enterprises Index, a gauge of Hong Kong-listed mainland shares, rose 0.2% to 9,573.62, as energy-related stocks cued off gains in crude-oil prices.
"Investors are taking a wait-and-see attitude," said Peter Lai, director of DBS Securities in Hong Kong, adding investors would be looking to U.S. durable-good orders data due out Wednesday for indications on the health of the largest global economy.
Lai added that he was concerned about sharp gains seen in small-capitalization stocks. Jacklin International Holdings /quotes/zigman/14053687 HK:630 -0.52% , for one, soared 52%. The gains came amid flat trading in large blue-chip shares, which Lai interprets as a bearish signal the market momentum may be about to change.
"Whenever there is this runup in penny stocks, it indicates that in the short term there will be a correction in the market," Lai said.
Also around the region, Australia's S&P/ASX 200 was down 0.4%, while Taiwan's Weighted Price Index shed 0.4% and Thailand's SET Index fell 0.2%.
Gainers included Singapore's Straits Times Index, up 0.9%, as well as New Zealand's NZSX-50, which ended the session up 0.5%, and Indonesia's JSX Composite, up 0.3%. South Korea's Kospi index rose 0.2%, as did Malaysia's KLSE Composite.
Financial markets in India were closed for a public holiday.
In energy, crude oil for May delivery was down as much as 33 cents to $62.58 a barrel in Asian electronic trading early Tuesday. May crude added 1% Monday on the New York Mercantile Exchange after touching $63.30, the highest intraday level since March 8 and the loftiest level for a front-month crude-futures contract so far this year.