Tokyo, Japan (BBN)-Asian shares traded mixed on Tuesday after a lacklustre lead from Wall Street as confidence was dampened by uncertainty over Greece’s debt deal.
Eurozone finance ministers failed to reach a deal on Greece’s bid for bailout funds to help it avoid a possible default, reports BBC.
In New York, Dow Jones and S&P 500 both closed down 0.5% after the Eurogroup meeting.
Japan’s Nikkei 225 index was down 0.5% to 19,524 in morning trade.
Shares in Sharp were up 6.8% in Tokyo after plunging 26% on Monday on worries over a possible capital reduction and issuance of preferred shares.
In China, shares headed in opposite directions. The Shanghai Composite opened up 0.5% at 4,354, while Hong Kong’s Hang Seng index was down 0.3% to 27,634.
In Australia, shares were higher but many investors stayed on the sidelines ahead of the federal budget due on Tuesday night.
The benchmark S&P/ASX 200 index was up 0.3% at 5,642 points.
With Australian Prime Minister Tony Abbott facing growing pressure to call early elections, the conservative government is expected to take a more cautious approach in its second budget.
Shares of construction material supplier CSR rose 6.7% to their highest since 14 April after the company reported a rise in full year profits.
In South Korea, the benchmark Kospi index traded flat at 2,096 points.