Nikkei 225 closes lower by 1.30% at 29,696.63

A bit of a pullback in Asian equities today

The Nikkei clipped the 30,000 mark for the first time in just over two weeks yesterday but failed to hang on above that as a stronger yen from overnight trading, among other factors, weighed on the index. The Topix also closed 1.5% lower on the day.

Elsewhere, Chinese equities are still struggling somewhat with the Shanghai Composite down 0.2% despite more upbeat PMI data from earlier. That said, better economic prospects may prove to be a double-edged sword as it reaffirms fears of policy tightening.

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