Asia shares trade mixed on Wall Street gains

Asian shares were mixed on Tuesday, pulling back from Monday's big gains despite Wall Street ending with record highs overnight.

New York shares reached new records on improved investor confidence with the Dow Jones at 17,817.9, while the S&P 500 rose to 2,069.4.

In Japan, the Nikkei 225 closed up 0.29% at 17,407.62 points after being closed for a public holiday on Monday.

The dollar rose to 118.38 yen, up from 118.25 yen in New York trade.

The dollar has jumped some 10% against the yen, benefiting Japanese exporters.

Hong Kong shares opened lower after a sharp rise the previous session spurred by a surprise rate cut by China's central bank.

By the end of the trading day, the benchmark Hang Seng index had closed down 0.21% at 23843.91 points , but the Shanghai Composite closed up 1.37% at 2,567.60 points, its highest since August 2011.

In Australia, the S&P/ASX 200 index closed down 0.5% at 5,334.80 points.

Shares of Australia's largest private health insurer made their highly anticipated debut on the Australian market after a A$5.679bn (£3.1bn; $4.9bn) initial public offering, the largest in Asia in two years.

The health insurer's shares first traded at a premium of A$2.22, compared with the A$2.15 institutional investors had paid, and the A$2 paid by retail investors. The firm's shares ended up closing at A$2.14.

In South Korea, the benchmark Kospi closed up 0.08% at 1,980.28 points after climbing to a seven-week high of 1,978.54 on Monday.