HONG KONG : Easing concerns over the release of key Chinese economic data later this week overshadowed a bout of profit-taking to leave Asian stocks mostly higher Tuesday.
Regional markets had fallen in the morning after recording strong rallies the previous day on the back of better-than-expected jobs figures in the United States at the end of last week.
Dealers had been looking ahead at inflation and trade figures from Beijing this week, fearing leaders could use the data to introduce credit-tightening measures.
However, rumours that Beijing may not be as stringent as feared lifted stocks.
Shanghai closed 0.52 percent, or 15.91 points, higher at 3,069.14, while Hong Kong ended flat, squeezing out a 10.68 point gain to 21,207.55.
Zhao Jianxing from China Merchants Securities said: "The current news flow regarding policies to curb property prices was within expectations, nothing too painful. The rally in that sector probably also helped to lift bank stocks."
Eyes have been on a key parliamentary session in China for any policy clues, as leaders plan to rein in lending and bring an end to huge stimulus measures introduced to overcome the global downturn.
Beijing has for some time fretted over the liquidity it says is leading to asset bubbles that could burst and hammer the economy.
Sydney was 0.25 percent, or 12.2 points, higher at 4,820.1, marking its eighth consecutive gain helped by gains in the banking sector.
Commonwealth Bank of Australia rose 0.7 percent to 55.21 Australian dollars and Westpac rose 0.5 percent to 26.97.
However, miner BHP Billiton lost 0.3 percent to 45.22 and rival Rio Tinto was off 1 percent at 76.15.
Tokyo stocks slipped 0.17 percent, or 18.27 points, to 10,567.65 after hitting a six-week high the previous day.
Wall Street provided no direction, falling 0.13 percent on Monday, despite Friday's rally that was caused by data showing unemployment in the world's biggest economy holding steady at 9.7 percent in February.
The US Labor Department said 36,000 jobs were lost in February. Most economists had forecast about 67,000 job losses and a 9.8 percent unemployment rate.
That news had helped Asian markets post strong gains on Monday.
The Greek debt crisis continued to hurt the euro as dealers showed caution ahead of meetings between Greek Prime Minister George Papandreou and US President Barack Obama and his Treasury Secretary Timothy Geithner.
Papandreou is expected to call for a crackdown on speculators he has accused of trying to undermine his country's struggle to get rid of its debt crisis.
The euro fell to 1.3614 dollars in Tokyo afternoon trade from 1.3631 in New York late Monday, and to 122.52 yen from 123.07. The dollar declined to 89.99 yen from 90.27.
Oil was lower, with New York's main contract, light sweet crude for April delivery, off 45 cents to 81.42 dollars a barrel, while Brent North Sea crude eased 42 cents to 80.05 dollars.
Gold closed at 1,123.00-1,124.00 US dollars an ounce in Hong Kong, down from Monday's close of 1,136.00-1,137.00 dollars.
In other markets:
-- Singapore closed 0.18 percent, or 4.97 points, higher at 2,839.54.
"We expect trades to remain tightly within a narrow band with further downside risk limited for the day," analysts from CIMB said.
-- Seoul ended flat, edging up 0.79 points to 1,660.83.
-- Taipei rose 0.11 percent, or 8.32 points, to 7,770.59.
Taiwan Semiconductor Manufacturing Co was 0.16 percent higher at 61.3 Taiwan dollars.
-- Manila rose 0.40 percent, or 12.37 points, to 3,107.35.
Philippine Long Distance Telephone was unchanged at 2,675 pesos while Aboitiz Power Corp. led gainers, rising 6.82 percent to 11.75 pesos.
-- Jakarta rose 1.17 percent, or 30.71 points to 2,657.16.
Car maker Astra rose 3.2 percent to 40,250 rupiah and coal miner Bumi added 2.0 percent to 2,500
-- Wellington ended 0.30 percent, or 9.61 points, to 3,213.21.
The loss ended a nine-day winning streak for the index.
"The market has had a reasonable patch the last few days and to be off a handful of points is no big deal," UBS New Zealand managing director Campbell Stuart told Dow Jones Newswires.
Telecom fell three cents to 2.21 dollars, Fletcher Building was flat at 8.10 and Contact Energy added four cents at 6.15.
-- Bangkok slipped 0.21 percent, or 1.52 points, to close at 718.77.
Banpu rose 4 baht to 574 baht and PTT Plc added 2 baht to 237 baht.
-- Mumbai ended 0.29 percent, or 50.06 points, lower at 17,052.54.
Copyright AFP (Agence France-Presse), 2010
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