MUMBAI: Asian markets were trading flat Tuesday on fresh credit market concerns raised by International Monetary Fund.
Japan's Nikkei Average slipped 0.14 per cent to 16,289.66. China's Shanghai Composite was up 0.07 per cent at 5488 and Hong Kong's Hang Seng was up 0.08 per cent at 26,572.
The South Korean and Taiwan stock markets were shut on account of national holiday.
The IMF said the turmoil in global credit and money markets was likely to continue.
The comments affected the Japan's banking sector which was down 0.3 per cent led by weakness in Mizuho Financial Group.
Auto companies, however, bucked the trend and were trading higher on expectations that the strike by employees of GM Motors would boost sales.
Toyota, Japan's largest automaker, gained 1.4 percent, Honda Motor moved up 1.6 per cent.
General Motor's US factory employees staged their first nationwide strike in 37 years Monday after the company failed to reach a new labour agreement.
Australian stock market hit a new high on the back of stronger base metal prices that buoyed mining firms.
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