Yamato Holdings fell 1.4% in response to a news report that the parcel delivery firm is expected to post an operating loss for April-June. Among other major losers were technology investor SoftBank Group and clothing store chain Fast Retailing.
On the other hand, automakers outperformed after reports that the Chinese government is set to shift its automotive strategy to rely more on hybrid vehicles. The move is part of the country's efforts to clean up the environment, instead of centring solely on electric vehicles, a development likely to work in favour of Japanese automakers such as Toyota Motor and Honda Motor. Toyota rose 1.3%, while Honda shed 0.4%. Also on the positive side were cosmetics maker Shiseido and Pan Pacific International Holdings, which runs Don Quijote discount stores.
CURRENCY NEWS: Japanese yen, often seen as a safe-haven currency, appreciated against greenback on Tuesday. The Japanese yen traded at 107.90 against the dollar after touching levels above 108.0 in the previous session.
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