Asian shares lower amid absence of fresh cues after US holiday

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Asian shares lower after US holiday

TOKYO — Asian stocks fell Tuesday in the absence of fresh cues following a market holiday in the U.S.

Japan’s Nikkei 225 stock average fell 82.22 points, or 0.8 percent, to 9,686.48 and Australia’s S&P/ASX 200 dropped 0.7 percent to 4,401.10.

In Seoul, the Kospi lost 0.6 percent to 1,630.41 and Taiwan’s benchmark fell 0.9 percent to 7,307.16. Hong Kong’s Hang Seng bucked the trend, rising 0.1 percent to 19,787.89. U.S. financial markets were closed Monday for Memorial Day.

Japanese exporters mainly fell as the yen strengthened.

Political uncertainty also dampened market sentiment in Tokyo, where Prime Minister Yukio Hatoyama faced mounting calls for his resignation after a small party left his coalition government in protest at the reversal of a campaign promise to move a U.S. military base off the southern island of Okinawa.

In currencies, the dollar fell to 91.05 yen from 91.21 yen late Monday. The euro slipped to $1.2266 from $1.2304.

Benchmark crude for July delivery was up 32 cents at $74.29 in electronic trading on the New York Mercantile Exchange.