SINGAPORE — Asian share markets were lower Tuesday in choppy trade after a U.S. holiday, with financial stocks down in Seoul and Sydney but higher in Tokyo, and Japanese real estate stocks rising.

Japan’s Nikkei 225 was down 1.2% with Australia’s S&P/ASX 200 down 0.3% and South Korea’s Kospi Composite off 1.0%. New Zealand’s NZX-50 was flat. U.S. stock futures were little changed in screen trade.

A Yonhap report said North Korea was preparing to test-fire short-range missiles after its test Monday of a nuclear device and three short-range missiles.

“The North Korea issue isn’t likely to have a long-lasting impact on the market,” said Woori Futures analyst Byeon Ji-young.

Markets were also awaiting word on General Motors’ fate. “The market can’t make any big moves before the U.S. decision on that,” said Yumi Nishimura, a market analyst at Daiwa Securities SMBC.

Japanese technology blue chips were falling with Canon down 0.6% and Sony lower by 0.8%.

But real estate stocks were gaining after their recent underperformance, while banks gained on hopes of a tentative economic recovery in Japan, with Mitsui Fudosan up 1.8% and Mizuho FG up 1.8%.

Financial stocks were on the decline in Seoul with KB Financial off 1.9% and Daewoo Securities down 1.8%, while technology and auto stocks slipped after recent gains, with Hyundai Motor down 1.5%.

Banks were also under pressure in Sydney with the short-selling ban lifted Monday on the sector, with Commonwealth Bank of Australia down 2.0%, Westpac down 1.6% and Suncorp off 3.8%.

Resource and energy stocks were mixed with Rio Tinto down 0.5%, even as its iron ore chief executive Sam Walsh said China had shown signs of economic improvement and, in terms of iron ore, Rio Tinto would be able to quickly respond once markets improved. He added the miner would determine any changes to terms of a proposed deal with Chinalco after Rio Chairman Jan du Plessis met shareholders, confirming du Plessis would meet government representatives and shareholders in Australia this week.

New Zealand shares were trading in low volume, with investors awaiting Thursday’s federal budget. “Normally (a budget is) not too surprising but obviously we live in interesting times so the market will be keeping its eyes peeled for that,” said James Smalley, a broker at Hamilton Hindin Greene.

Fisher & Paykel Healthcare fell 5.5% even as it reported a sharp rise in its full year net profit and was upbeat about the current year. The medical equipment maker said net profit was up 76% from the prior year.

Currency market trade was quiet after the U.S. holiday, with traders mostly taking their lead from stock market action. There were some bids for the U.S. dollar though, before a scheduled U.S. Treasury sale of two-year notes later Tuesday.

The U.S. dollar was at ¥94.92, from ¥94.77 late in North American trade, and the euro at $1.4014, from $1.4017, with the single currency at ¥133.01.

Japanese government bond futures were slightly higher with the June contract up 0.04 at 136.80 points.

Spot gold was down $1.55 at $955.65 a troy ounce, still helped by weakness in the U.S. dollar and by emerging inflation concerns.

Front-month Nymex crude oil futures were down 40 cents on Globex, at $61.27 a barrel.

“The rate of decline in the broader economy has slowed, but (signs) of actual growth resuming are few and far between,” said David Moore, a strategist at Commonwealth Bank of Australia. “My thinking is we might have to see the oil price fall back somewhat over the next month or so before recovering later in the year.”

Write to Rosalind Mathieson at rosalind.mathieson@dowjones.com