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Asian stocks rose on Tuesday but gains were limited as investors worried higher energy prices could stunt the global economic recovery.
Japan's stocks edged higher as investors covered short positions after sharp losses the day before, but future gains are likely to be hard-won due to concerns about the Middle East and oil prices.
Two major deals were applauded by investors with Hitachi gaining on the sale of its hard disk drive operations to Western Digital for about $4.3 billion, while Terumo Corp climbed on its purchase of U.S. medical device firm CaridianBCT for $2.6 billion.
The benchmark Nikkei ended the day up 0.2 percent. The broader Topix shed 0.3 percent to 939.16.
Hitachi gained 1.8 percent in heavy trade, while Terumo Corp jumped 3.2 percent.
Toshiba Corp fell 0.8 percent and Sony dropped 0.6 percent.
Shinsei Bank surged 6.3 percent after it set the price of its new stock offering for overseas investors at 108 yen per share, a 3.6 percent discount to Monday's closing price of 112 yen.
Seoul shares ended up 0.8 percent after volatile trade, lifted by shipbuilders and financials, but falls in technology plays like Samsung Electronics dented upside momentum.
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