(RTTNews) - Asian stock markets are exhibiting a mixed trend on Tuesday with investors treading cautiously amid concerns about financial worries in the euro zone. Though some of the markets in the region have edged higher, the mood remains extremely cautious due to lingering doubts about the pace of economic recovery.

Bank stocks are among the prominent losers in the Australian market. Shares from materials, energy and information technology sectors are also mostly down in the red.

The benchmark S&P/ASX 200 index, which declined to around 4,465 earlier in the day, is currently down 33.4 points or 0.7% at 4,488. The broader All Ordinaries index is trading at 4,505, down 33.8 points or 0.8% from its previous close.

Among bank stocks, ANZ Bank, Commonwealth Bank of Australia and National Australia Bank are trading lower by 1.1%-1.7%, while Westpac Banking Corporation is down with a loss of 2%.

Shares of investment bank Macquarie Group Ltd are down as much as 6.2% after the company said it expects its second-half profit to be broadly in line with the first half, taking the fiscal 2010 result to about A$960 million. The full year figure would compare with the A$871 million profit booked in fiscal 2009.

Shares of BKI Investment Company Ltd are trading lower despite the company increasing first-half profit by 36.4%. Net profit rose to A$19.4 million for the six months to December 31, 2009, compared with A$14.1 million in the prior corresponding period.

Among top miners, Rio Tinto is down with a loss of 0.85%, while BHP Billiton and Newcrest Mining are trading with modest gains. Bluescope Steel, Fortescue Metals and Orica are trading lower, while Incitec Pivot and Lihir Gold are up in positive territory marginal gains. Shares of Alumina Ltd are down 1.6% after the company revealed a net loss of A$26 million in 2009.

Energy stocks Santos, Woodside Petroleum, Oil Search and Origin Energy have wiped off most of their losses and are currently trading just marginally down from their previous closing prices.

In the currency market, the Australian dollar opened marginally lower before edging up to US$0.8667-US$0.8671 in early trades, compared to Monday’s close of US$0.8664-US$0.8666. The Aussie is currently trading at 0.8647 to the U.S. dollar.

After a weak start and a subsequent recovery from lower levels, the Japanese stock market is losing ground again with investors pressing sales amid concerns over the impact of euro zone’s sovereign debt woes on the global economy.

The benchmark Nikkei 225 index, which recovered to 9,956.8 after an early fall to around 9,867, is currently trading at 9,908, down 43.8 points or 0.44% from its previous close. The Nikkei had ended lower by over 1% or 105 points on Monday.

Non-ferrous metals, chemicals, banking and pharmaceuticals stocks are among the notable losers on Tuesday.

Mazda Motor is trading lower by about 2.5%, while Toyota Motor is trading 1.8% up on bargain hunting after recent sharp losses.

Shares of JVC Kenwood Holdings Inc. are down sharply after the company said it will correct fiscal 2004 earnings results as subsidiary Victor C. of Japan previously conducted improper accounting procedures before becoming a JVC Kenwood subsidiary in 2008.

Thanks to a sharp 190% jump in net profit for the nine months to December, shares of Sumitomo Mitsui Financial Group are edging higher.

Mitsubishi Materials, Pioneer Corp, Toho Zinc, Sumitomo Chemicals, Advantest, Shinsei Bank and Japan Tobacco are some of the prominent losers, while Casio Computer, Mizuho Securities, Daikin Industries, Fast Retailing and Mizuho Financial are trading in positive territory with notable gains.

In the currency market, the U.S. dollar traded in the lower 89 yen range in early deals in Tokyo. The yen is currently trading at 89.30 to the U.S. dollar.

The South Korean market, which shrugged off a weak start and moved higher, fell into the red on weak global cues but has rebounded once again thanks to some strong buying in banking, shipping and technology stocks.

The benchmark KOSPI index, which dropped down to around 1,549 after an early surge, is currently up 8.2 points or 0.52% at 1,561.

Among bank stocks, Shinhan Financial is trading 4.3% up, KB Financial is gaining about 4.8% and Woori Finance is up with a gain of 3.5%, while Korea Exchange Bank is trading higher by about 2%.

In the shipping space, Daewoo Shipbuilding is up 2.8% and Hyundai Heavy Industries is gaining 1.7%, while STX Pan Ocean and Samsung Heavy Industries are up with modest gains.

Among technology stocks, Hynix Semiconductor is up 1.4%. LG Display LCD is trading 1.8% up and LG Electronics is gaining 0.5%, while heavyweight Samsung Electronics is trading flat.

Oil stocks SK Holdings and S-Oil are trading higher, while KEPCO is down by about 1%. Steel stocks Hyundai Steel and POSCO are up 2.4% and 1.4% respectively.

Automobile stocks are trading mixed. Among airliners, Asiana Airlines is up as much as 11%, while Korean Air is in negative territory with a loss of 1.8%. Telecom stocks are exhibiting some weakness.

Among other markets in the Asia-Pacific region, Hong Kong, Indonesia, Malaysia, New Zealand and Singapore are trading weak, while Shanghai and Taiwan are trading in positive territory. Markets across the region had closed on a negative note on Monday.

On Wall Street, stocks ended mostly lower on Monday after showing a lack of direction during the major part of the session. The major averages all closed firmly in negative territory, extending the downward move seen over the course of the previous four weeks.

Uncertain global economic outlook and a lack of significant triggers forced most of the traders to stay away on the sidelines. The Dow closed down 103.8 points or 1% at 9,908.4, the Nasdaq drifted down 15.1 points or 0.7% to 2,126.05 and the S&P 500 lost 9.5 points or 0.9% to close at 1,056.7.

Major European markets ended higher on Monday after seeing some volatility over the course of the session. The French CAC 40 index and the German DAX index rose 1.2% and 0.9% respectively, while the U.K.’s FTSE 100 index closed 0.6% up.

Crude oil for March delivery rose US$0.70 to settle at US$71.89 per barrel on the New York Mercantile Exchange on Monday, supported by a weaker U.S. dollar, geopolitical disputes and forecasts for unusually cold weather this week across key heating fuel consuming regions in the U.S.

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