Across Asian markets, the energy sector saw gains as oil prices hit the $50-U.S. a-barrel mark for the first time since early November, but broader markets were mixed.
In Japan, the Nikkei 225 eked higher 15.11 points, or 0.1%, to 16,772.46
In Hong Kong, the Hang Seng index added 29.06 points, or 0.1%, to 20,397.11.
Energy plays in Asia closed mostly higher, with Santos shares advancing 4.9%, Woodside Petroleum adding 2.1% and Inpex gaining 2.6%
In the currency market, the Japanese yen saw renewed strength against the U.S. dollar, with the pair trading at 109.90.
But experts say the pair could climb ahead. Short-covering in the pair was one of the greatest risks that the dollar/yen pair faced at the moment
Japanese exporters closed mixed on the back of fresh yen strength. Toyota shares were up 0.7% and Nissan shares advanced 0.7% but Sony shares pared losses of nearly 1% to close flat, after climbing 6.5% in Wednesday's session as the market reacted positively to its earnings forecasts.
The Reuters Tankan, a monthly poll which aims to track the Bank of Japan's quarterly tankan survey, found that Japanese manufacturers' confidence fell to a three-year low in May, highlighting the impact of a strong yen on exporters of cars and electronics.
The survey also found the service sector's mood fell in May
Elsewhere, Takata shares soared 21.2%, after reports citing the Nikkei said U.S. fund KKR was looking to invest in the troubled airbag maker. The company had been embroiled in a global scandal involving faulty airbags that led to large number of recalls.
Meanwhile, the two-day G7 Summit 2016 Japan kicked off in Ise-Shima on Thursday.
The New Zealand dollar retreated against the greenback, trading at $0.6706 U.S., down from levels as high as $0.6771 Wednesday. But that was off the session low of $0.6695, getting a boost after New Zealand's finance minister, Bill English, released the 2016 May Budget, which included a sizable social investment package to support New Zealanders to get off benefits and into work.
Foreign exchange strategists at the Commonwealth Bank of Australia said in a morning note that the Kiwi came under pressure overnight after "Fonterra's milk price forecast for the 2016-17 season was much lower than expected." Fonterra shares closed flat.
CHINA
The CSI 300 Index regained 4.99 points, or 0.2%, to 3,064.21.
Chinese mainland oil stocks were mostly higher, with Sinopec adding 1.1%
The Chinese yuan traded at 6.5583 against the U.S. dollar in the afternoon. Before market open, the People's Bank of China set the yuan mid-point at 6.5552, suggesting a stronger Chinese currency, after fixing it at a five-year low against the greenback on Wednesday at 6.5693.
China's central bank lets the yuan spot rate rise or fall a maximum of 2% against the dollar, relative to the official fixing rate.
In other markets
In Korea, the Kospi Index dipped 3.45 points, or 0.2%, to 1,957.06
In Singapore, the Straits Times Index moved up 6.65 points, or 0.2%, to 2,773.31
In Taiwan, the Taiex Index slipped 2.08 points to 8,394.12
New Zealand’s NZX 50 gained 39.84 points, or 0.6%, to 6,947.88
The ASX 200 progressed 15.58 points, or 0.3%, to 5,388.09
