Japanese shares down despite current account surplus

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Shares in Tokyo were down on Tuesday, despite fresh figures showing Japan had a current account surplus for the fifth month in a row.

The benchmark Nikkei 225 was down as much as 1.7% earlier in the day, and closed down 0.6% to 17,087.71 points.

Japan recorded a surplus in November of 433bn yen ($3.7bn; £2.43bn).

The numbers beat expectations and were due in part to a weaker yen, as well as a boost in returns from overseas investments.

Another contributing factor to the fall in Tokyo stocks was investor reaction to a further drop in oil prices.

Brent crude fell 5.5% to $47.36 a barrel, while US crude dropped 5% to $45.90 - both hitting six-year lows.

Takuya Takahashi, an analyst at Daiwa Securities in Tokyo, said the Nikkei's drop was also "due to negative news accumulated during the long weekend" after US jobs data showed weaker wages growth.

Japan's market was shut on Monday for a public holiday.

China's trade surprise

China's December trade figures beat expectations on Tuesday, with exports up 9.7% and imports down 2.3% from a year earlier.

The final figures for the year mean exports rose 6.1% in 2014 compared with 2013, while imports rose 0.4%, state news agency Xinhua said.

The positive data led the Shanghai Composite to change direction and close 0.2% higher at 3,235.3.

In Hong Kong, the benchmark Hang Seng index also ended up 0.8% to 24,215.97, marking its fifth day on the upturn.

Australian shares closed lower, with the S&P/ASX 200 down 0.3% to 5,404.70 as investors reacted to falling oil prices.

In South Korea, the benchmark Kospi also showed losses, closing down 0.2% to 1,917.14.

Meanwhile, Malaysian investors welcomed reports that suggested a $20bn deal that could have created one of the country's big banks had failed.

Two of the banks involved were CIMB and RHB Capital. Their Kuala Lumpur shares were 11% and 1.9% higher respectively.