Asia's markets mostly rose on Wednesday following a slight rebound on Wall Street but Tokyo took another hit from a stronger yen.
The benchmark Nikkei-225 index sank 307.19 points or 2.10 percent to 14,299.69, while the Topix index of all first-section shares lost 2.05 percent, or 24.12 points, to 1,150.44.
Among the biggest losers was Toyota Motor, which tumbled after announcing the recall of 6.39 million vehicles worldwide over various problems.
The yen gathered momentum after Haruhiko Kuroda said Tuesday that Japan's economy was getting back on track and a sales tax that kicked in on April 1 would not hurt a nascent recovery, despite warnings to the contrary.
Kuroda -- who also stuck to an ambitious inflation target despite growing doubts among analysts -- told a post-meeting news briefing he does not "think there is a need for additional easing measures".
Nader Naeimi at Sydney-based AMP Capital Investors told Dow Jones Newswires: "Kuroda disappointed the market.
"The BoJ is not so keen on pre-emptive action. It thinks the fact its balance sheet is growing at the fastest rate in the developed world is aggressive enough. And it is keen to fully assess the impact of the tax increase."
Toyota Motor shed 3.07 percent to 5,450 yen in response to the recall involving 26 Toyota models, as well as the Pontiac Vibe and the Subaru Trezia.
Among the problems are a driver's seat defect, steering column problems, and an engine starter glitch that poses a fire risk, the company said.
Drugs firm Takeda Pharmaceutical lost another 1.09 percent to close at 4,522 yen, a day after it fell 5.16 percent on news that a US jury had ordered it to pay $6.0 billion in damages linked to health risks posed by its Actos diabetes medicine.
Sumitomo Realty and Development dived 3.77 percent to 4,029 yen, Canon fell 1.00 percent to 3,137 yen and Sony lost 3.36 percent to 1,895 yen.
The benchmark Hang Seng Index rose 246.20 points or 1.09 percent to 22,843.17, while in China the benchmark Shanghai Composite Index rose 0.33 percent, or 6.96 points, to 2,105.24.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.90 percent or 9.69 points to 1,087.89.
The Seoul market rose 0.30 percent, or 5.92 points, to 1,998.95.
Sydney ended 0.98 percent higher at 5,463.8, its highest close since June 2008, supported by a surge in retailer David Jones after it received a massive takeover offer.
The upmarket department store rose 23 percent to Aus$3.91 after recommending that shareholders accept a buyout from South Africa's Woolworths that values it at Aus$2.15 billion (US$2.01 billion).
The euro bought 140.82 yen on Wednesday, up from 140.44 yen late in New York but down from the 141.21 yen earlier Tuesday in Asia. The single currency was at $1.3800 on Wednesday, against $1.3797 in US trade.
Oil prices were lower after spiking Tuesday on events in Eastern Europe.
New York's main contract, West Texas Intermediate for May delivery, eased 40 cents to $102.16 a barrel in afternoon Asian trade. Brent North Sea crude for May was down 49 cents to $107.18.
Gold fetched $1,309.91 an ounce at 0800 GMT, up from $1,312.13 late Tuesday.
In other markets:
-- Taipei rose 0.48 percent, or 42.32 points, to 8,930.57.
Taiwan Semiconductor Manufacturing Co was unchanged at Tw$119.0 while leading smartphone lens maker Largan Precision Co. closed 2.82 percent higher at Tw$1,640.
-- Wellington rose 0.71 percent, or 35.85 points, to 5,067.41.
Fletcher Building was up 1.16 percent at NZ$9.59 and Air New Zealand steady at NZ$2.05.
-- Manila was closed for a public holiday.
Asia’s markets mostly rose on Wednesday following a slight rebound on Wall Street but Tokyo took another hit from a stronger yen.
The benchmark Nikkei-225 index sank 307.19 points or 2.10 percent to 14,299.69, while the Topix index of all first-section shares lost 2.05 percent, or 24.12 points, to 1,150.44.
Among the biggest losers was Toyota Motor, which tumbled after announcing the recall of 6.39 million vehicles worldwide over various problems.
The yen gathered momentum after Haruhiko Kuroda said Tuesday that Japan’s economy was getting back on track and a sales tax that kicked in on April 1 would not hurt a nascent recovery, despite warnings to the contrary.
Kuroda — who also stuck to an ambitious inflation target despite growing doubts among analysts — told a post-meeting news briefing he does not “think there is a need for additional easing measures”.
Nader Naeimi at Sydney-based AMP Capital Investors told Dow Jones Newswires: “Kuroda disappointed the market.
“The BoJ is not so keen on pre-emptive action. It thinks the fact its balance sheet is growing at the fastest rate in the developed world is aggressive enough. And it is keen to fully assess the impact of the tax increase.”
Toyota Motor shed 3.07 percent to 5,450 yen in response to the recall involving 26 Toyota models, as well as the Pontiac Vibe and the Subaru Trezia.
Among the problems are a driver’s seat defect, steering column problems, and an engine starter glitch that poses a fire risk, the company said.
Drugs firm Takeda Pharmaceutical lost another 1.09 percent to close at 4,522 yen, a day after it fell 5.16 percent on news that a US jury had ordered it to pay $6.0 billion in damages linked to health risks posed by its Actos diabetes medicine.
Sumitomo Realty and Development dived 3.77 percent to 4,029 yen, Canon fell 1.00 percent to 3,137 yen and Sony lost 3.36 percent to 1,895 yen.
The benchmark Hang Seng Index rose 246.20 points or 1.09 percent to 22,843.17, while in China the benchmark Shanghai Composite Index rose 0.33 percent, or 6.96 points, to 2,105.24.
The Shenzhen Composite Index, which tracks stocks on China’s second exchange, gained 0.90 percent or 9.69 points to 1,087.89.
The Seoul market rose 0.30 percent, or 5.92 points, to 1,998.95.
Sydney ended 0.98 percent higher at 5,463.8, its highest close since June 2008, supported by a surge in retailer David Jones after it received a massive takeover offer.
The upmarket department store rose 23 percent to Aus$3.91 after recommending that shareholders accept a buyout from South Africa’s Woolworths that values it at Aus$2.15 billion (US$2.01 billion).
The euro bought 140.82 yen on Wednesday, up from 140.44 yen late in New York but down from the 141.21 yen earlier Tuesday in Asia. The single currency was at $1.3800 on Wednesday, against $1.3797 in US trade.
Oil prices were lower after spiking Tuesday on events in Eastern Europe.
New York’s main contract, West Texas Intermediate for May delivery, eased 40 cents to $102.16 a barrel in afternoon Asian trade. Brent North Sea crude for May was down 49 cents to $107.18.
Gold fetched $1,309.91 an ounce at 0800 GMT, up from $1,312.13 late Tuesday.
In other markets:
— Taipei rose 0.48 percent, or 42.32 points, to 8,930.57.
Taiwan Semiconductor Manufacturing Co was unchanged at Tw$119.0 while leading smartphone lens maker Largan Precision Co. closed 2.82 percent higher at Tw$1,640.
— Wellington rose 0.71 percent, or 35.85 points, to 5,067.41.
Fletcher Building was up 1.16 percent at NZ$9.59 and Air New Zealand steady at NZ$2.05.
— Manila was closed for a public holiday.
