Asian Equities Decline as Japan Stocks Move Higher

Asian shares outside Japan declined early Tuesday, as investors eyed a slew of corporate earnings due in the region and a two-day meeting by the Federal Reserve on clues of when interest rates in the U.S. could be lifted.

Wall Street underpinned the subdued mood by ending down overnight, failing to hold Friday’s records. The tech-heavy Nasdaq led losses, down 0.6 percent as biotech stocks lagged. The Dow Jones Industrial Average shed 0.2 percent, while the S&P 500 index dropped 0.4 percent.

Chinese stocks saw volatile trade immediately after the opening bell; the Shanghai Composite last traded 0.3 percent lower, slightly off its Monday’s seven-year peak, while the Hang Seng Index also reversed a higher open to be nearly flat. The Hong Kong bourse had rose to its highest level since December 2007 in the previous session.