Asia stocks mixed; Nikkei breaches 17,000 for first time since 2007

Asia equities were mixed on Tuesday with Japan's benchmark index crossing the 17,000 level for the first time since October 2007.

Sliding oil prices weighed on sentiment in Asia. The price of crude extended losses after hitting a more than two-year low overnight on the back of dollar strength and after top exporter Saudi Arabia deepened price cuts for U.S. customers. That saw U.S. stocks erase gains to finish mostly lower Monday.