ASIA STOCKS closed mixed Tuesday

Chinese stocks retreated Tuesday on lingering worries about an economic slowdown, but Japanese shares resumed their advance after a three-day weekend, helped by a weakened yen and another record finish for key U.S. indexes overnight.

The Shanghai Composite Index fell 0.4%, with China’s second-quarter economic growth of 7.5%, released on Monday, remaining in focus amid fears of a further slowdown. Hong Kong’s Hang Seng Index was flat in choppy trading.

Shares of China Resources Land Ltd. dropped 2.5%, and China Coal Energy Co. gave up 1.5% in Hong Kong trading, while energy producer Cnooc Ltd. gained 1% after U.S. benchmark oil futures settled above $106 a barrel overnight.

In Shanghai, Poly Real Estate Group Co. retreated 2.4%, and China Merchants Bank Co. lost 1.2%.

Elsewhere, South Korea’s Kospi dropped 0.6%, and Taiwan’s Taiex gave up 0.3%, while Australia’s S&P/ASX 200 reversed early gains to slip 0.1%.

On the upside, Japan’s Nikkei Stock Average rose 0.4%.

Exporters were broadly higher in Tokyo: Canon Inc. advanced 2.7%, and Nissan Motor Co. added 1.3%.

Fuji Heavy Industries Ltd. added 1.5% after the Nikkei newspaper reported over the weekend that the Subaru-brand vehicle maker is expected to report a record quarterly operating profit.

Miners were mostly higher in Sydney on the positive lead from Wall Street, although Rio Tinto Ltd. retreated in choppy trading ahead of the company’s quarterly production report, expected to show a hit from weather in Pilbara region.

Shares of BHP Billiton Ltd. gained 0.2%, and Fortescue Metals Group Ltd. advanced 0.3%, while Rio eased 0.3% lower.

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