Asian Market Update

Asian markets were mixed on profit-taking Tuesday after a Chinese rate cut fuelled a rally in the previous session, while Tokyo played catch-up following a long weekend.

The euro was treading water after getting a lift on Monday from data showing German business confidence rose in November for the first time in seven months.

Tokyo rose 0.34 per cent after a long weekend, while Seoul was flat and Sydney lost 0.76 per cent. Hong Kong slipped 0.27 per cent and Shanghai added 0.24 per cent.

Traders largely took their foot off the pedal after Monday's surge that came on the back of China's surprise decision last week to slash interest rates for the first time in two years in a bid to kickstart growth in the Asian economic powerhouse.