Asian Markets Mixed

Asian markets were mixed Tuesday, with Australian stocks extending losses on financials such as Australia & New Zealand Banking Group ahead of an expected interest rate hike by the central bank, while Hong Kong stocks rebounded on HSBC Holdings after it reported earnings growth.

Japanese shares turned volatile, with the benchmark Nikkei swinging between negative and positive territories, as a decline in banks such as Mizuho Financial Group was countered by bargain buying in exporters such as Honda Motor Co.

Australia's S&P/ASX 200 dropped 0.8% to 5,364.90, taking its losses into the fourth straight session, with financial sector shares pacing losses.

Elsewhere in the region, the Nikkei 225 Average rose 0.3% to 13,025.06. The average fell as low as 12,883.07 earlier in the day, after tumbling 4.5% in the previous session. The broader Topix index gained 0.3% to 1,275.45.

In Hong Kong, the Hang Seng Index rose 1.1% to 23,854.32, while the Hang Seng China Enterprises index gained 1% at 13,575.34.

China's Shanghai Composite advanced 0.1% to 4,442.52 and New Zealand's NZX 50 index declined 1.3% to 3,537.72, while South Korea's Kospi added 0.2% at 1,674.36. Singapore's Straits Times Index climbed 0.3% to 2,936.54, Taiwan's Weighted index gained 1.6% at 8,398.69 and Malaysia's KLSE Composite dropped 0.5% to 1,323.53.

In currency trading, the U.S. dollar was quoted at 103.39 yen. The greenback bought 103.51 yen late in New York, after falling as low as 102.59 earlier in the session.