Asian stocks were mixed towards the end of trading on Tuesday, with Japanese government bond yields sinking to record lows and hopes of Japanese currency intervention helping to offset Brexit uncertainty.
Futures on some Western indices pointed to a bounce on opening, however. S&P 500 mini futures were recently up 0.88% while FTSE 100 futures were up 1.12%. But Eurostoxx 50 futures were down 2.96%.
In Tokyo the Nikkei 225 was recently up 0.60% at 15,401.49, after surging 2.39% on Monday on hopes of government intervention to curtail the rise of the yen. Finance Minister Taro Aso said on Tuesday currency lurches were undesirable. The Topix gained 0.34% to 1,229.98.
Carmakers continued their decline amid Brexit-related export worries. Mitsubishi Motors (MMTOF) , Mazda (MZDAY) and Toyota (TM - Get Report) were among the biggest decliners on the Nikkei 225. Shareholders in Daihatsu on Wednesday vote on Toyota's $3.1 billion bid. Daihatsu shares were recently down more than 3%, in line with peers.
Japanese yields on 30-year, 40-year and 10-year government debt all touched record lows on Tuesday, with the 10-year bond falling to minus 0.225%.
The yen was recently little changed against the dollar, with one dollar buying Y102.0100. It fell back against the euro, which bought Y112.78. That represents a rise of 0.30% against the Japanese currency.
In Hong Kong the Hang Seng was recently down 0.80% at 20,065.02, with airline Cathay Pacific falling with sector peers to trade 2.7% lower.
CK Hutchison Holdings was down 2.5% after Moody's said Brexit was negative for the company, which is heavily exposed to the U.K. However, it said the U.K.'s retreat from the EU wouldn't affect CK Hutchison's issuer rating or outlook. Another Li Ka-shing affiliate, Cheung Kong Infrastructure, fell 2.7%. That company also has substantial British interests.
On mainland China the CSI 300 composite was down 0.07% at 3,118.30.
Brent crude was recently up 1.59% a barrel at $47.91.
Spot gold fell 0.58% to $1,316.95.