Stocks in Asia settled in the red on Tuesday as jitters about Chinese economic growth eroded buyer appetite.

Market confidence fell after recent weaker than expected Chinese data, including weak industrial output and retail sales data.

The benchmark Nikkei 225 closed down 34 points at 12,314 in Tokyo while the Hang Seng settled down 200 points at 22,890 in Hong Kong.

Shares in Tokyo fell for the first time in eight days on Tuesday as profit takers moved in on shares such as Fast Retailing, Sony, Toyota and Honda.

Elsewhere property firm Mitsubishi Estate lost 2.4% after the recent run up in the group's shares.

In Hong Kong concern about rising inflation and slowing growth curbed buyer interest and prompted selling across the board.

Shares of China Life Insurance fell 3.1% after its shares were suspended on Monday. Ping An Bank fell 3.3%.

Shipping company China Cosco tanked 5.2% on news that it plans to sell its logistics unit to its state controlled parent in a bid to boost its 2013 earnings.

Rail operator MTR Corp fell 1.7% after it posted disappointing 2012 figures.

Elsewhere property developer New World Development firmed almost 1% after it said it may sell off some of its hospitality assets.

In initial public offering news, shares of Oi Wah Pawnshop Credit soared by a third on its trading debut.



CJ

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