Most Asian stocks retreated on Tuesday as the already battered Japanese exporters stocks were pressured by a strong yen, but Chinese markets rallied aided by automakers and commodities plays. Yuan slipped against the dollar as the People's Bank of China fixed a weaker mid-point, with a rebound in the US dollar taking some steam out of the recently appreciating yuan. Japans Nikkei, which opened after a three day holiday weekend, slumped 2.1%, Australias ASX plunged 1.6%, Hong Kongs Hang Seng slipped 0.4% and Indias Sensex lost 0.7%. However, Chinas Shanghai Composite jumped 1.2%.
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