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Japan’s Nikkei gave up most of its gains to close flat on Tuesday, as worries about inflation and higher interest rates in the United States outweighed the rise of automakers and energy-related stocks.
The index rose 0.1 percent to 27,943.95 points, after exceeding 28,000 points for the first time since March 31.
The broader Topix index rose 0.41 percent to 1947.03 points.
Shares of automakers rose after the dollar jumped against the yen. It was helped by expectations of persistent inflation, which pushed up US bond yields.
Mazda Motor’s stock increased 4.17 percent, and the Nikkei shares were the biggest gainer. Honda Motor shares rose 2.52 percent and Toyota Motor 1.27 percent.
The auto and spare parts industry sub-index rose 1.55 percent.
Shares of oil exploration companies rose 2.99 percent. Its index was the biggest gainer among the 33 industry sub-indices on the Tokyo Stock Exchange, buoyed by higher oil prices.
The blue chip-related stocks weighed on the Nikkei, as Tokyo Electron lost 2.11 percent and Advantest fell 2.51 percent.
Kawasaki Heavy Industries lost 4.36 percent, the worst performer on the Nikkei index, after the company said there were irregularities in one of its subsidiaries.
