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Asian shares mixed; Samsung skids 2% after earnings

Asian shares were mixed on Tuesday while liquidity was thin with Japanese markets shut for a public holiday.

Caution set in as the U.S. and Europe slapped more sanctions on Russia on Monday, including visa bans on those close to President Vladimir Putin. 17 companies and 7 individuals in all were U.S. targets in this round of sanctions, which come amid mounting tension over eastern Ukraine. Armed pro-Russian rebels broke up a rally in support of Kiev in the regional capital of Donetsk, injuring several people.

Read MoreUkraine may keep the gold bulls out in force

Investors will also be looking ahead to a policy meeting by the Federal Open Market Committee, which starts later on Tuesday. The two-day review culminates with a press conference by Fed Chair Janet Yellen and market watchers will be looking for any signs of when interest rates could rise ahead of Friday's non-farms payroll (NFP) report for April.

Symbol
Name
Price
 
Change
%Change
NIKKEI
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HSI
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ASX 200
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SHANGHAI
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KOSPI
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CNBC 100
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Shanghai up 0.8%

Mainland shares rebounded thanks to upbeat earnings after ending at a more than one-month low in the previous session.

Among the top gainers, Ping An Insurance rose 2.6 percent after posting a 46 percent rise in first-quarter profit while Datong Coal jumped by the maximum trading limit of 10 percent after reporting $166 million in quarterly profits.

Property developers pared losses on news that the city of Nanning will loosen regulations on house buying. Vanke fell 0.4 percent after posting a 5 percent annual decline in profit. Earlier in the session, the stock tanked as much as 2 percent.

Shanghai Shimao lost 1.4 percent despite net profit rising 8.4 percent and Gemdale fell 10 percent after quarterly profit slumped 76 percent.

Read MoreChina banking regulator urges probes on iron ore financing

Kospi slips 0.3%

South Korean shares hit a one-month low for a second straight session, despite upbeat March current account surplus data.

Meanwhile, the won briefly touched its strongest level in nearly six years at 1,030.1 per dollar.

Tech giant Samsung Electronics lost 2 percent after reporting a 3.3 percent fall in first-quarter operating profit, in line with its guidance.

Read MoreIs Samsung's stock about to pop?

LG Electronics jumped 4 percent after first-quarter operating profit rose to 504 billion won, higher than estimates for 279 billion won.

ASX down 0.9%

Australian shares snapped their seven-session winning streak after hitting a fresh six-year high of 5,554 points earlier in the day.

Meanwhile, the Australian dollar fell to a more than three-week low against the greenback.

Declines in mining heavyweights weighed on the benchmark index. Rio Tinto and Fortescue Metals lost over 2 percent each as iron ore prices hit a seven-week low.

Wesfarmers lost 2 percent on the back of disappointing third-quarter earnings results.

Oil and gas producer Horizon Oil slumped 4 percent after agreeing to merge with Roc Oil. Their new company is estimated to be worth around $741 million.

India sheds 0.7%

Indian shares extended losses into a second session, retreating further from Friday's record high.

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