By Suryatapa Bhattacharya
Asian shares were a mixed bag on Tuesday as some trading resumed after the Christmas holidays, albeit on thin volumes.
Japan's Nikkei Stock Average fluctuated, opening lower but recently trading flat as the yen weakened against the U.S. dollar. Korea's Kospi was up 0.2%, the Shanghai Composite Index was 0.3% lower and Singapore's FTSE Straits index was flat.
Markets in Australia, New Zealand and Hong Kong were closed.
Among early losses in Tokyo stocks, Toshiba Corp.'s (6502.TO) share price dropped 12.3% after the company confirmed a Japanese media report that it would book an impairment loss of Yen100 billion ($854 million) related to its U.S.subsidiary Westinghouse, which operates nuclear reactors around the world.
Elsewhere, South Korean consumer confidence in the economy dipped to a seven-year low in December, a Bank of Korea survey showed. Korean consumers seem still concerned about uncertainty over political developments at home and abroad, including a corruption scandal that has engulfed President Park Geun-hye, who has been impeached by parliament and is now awaiting a constitutional court ruling, said a BOK official.
Shares in Ezra Holdings (5DN.SG) rose 9.1% at S$0.047 after the services provider to the offshore oil and gas industry said its Oslo-listed unit EMAS Offshore has resolved a dispute with Malaysia's Perisai Petroleum Teknologi.
The parties disagreed about an option that Perisai tried to use to force EMAS to buy the entire stake in a joint venture. This dispute was resolved after EMAS agreed to proceed with the transaction if some of its conditions were met.
In commodities, oil prices were making tepid gains in Tuesday morning Asian trade (http://www.marketwatch.com/story/oil-prices-steady-as-investors-wait-for-production-cuts-to-roll-out-2016-12-27), less than a week before major oil producers around the world scale back production in line with the deal they made last month.
Collectively, OPEC members and 11 non-OPEC producers are expected to slash output by almost 1.8 million barrels a day in stages, starting Jan. 1. The oil market was closed on Monday due to the Christmas holiday. Nymex was up 5 cents at $53.07 a barrel, and Brent slipped 9 cents at $55.07 a barrel.
-- Takashi Mochizuki, Gaurav Raghuvanshi, Jenny Hsu and Kwanwoo Jun contributed to this article.
(END) Dow Jones Newswires
December 27, 2016 02:04 ET (07:04 GMT)
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