Asian markets were mostly lower on Thursday after the U.S. Federal Reserve 'stuck to a hawkish bent overnight and as metals prices tumbled.
Markets in Japan are shut for the rest of the week for the Golden Week holiday.
Hong Kong’s Hang Seng Index lost 12.25 points, or 0.1%, to 24,683.88
Among Australian resources plays, Rio Tinto dropped 1.8% but BHP Billiton edged up 0.1%, after shedding 2.3% on Wednesday. Fortescue lost 4.8% and Newcrest shed 1.2%
The drop in copper prices came after a jump in inventories increased worries about an economic slowdown in China, the world's largest consumer of the metal.
The inventory rise compounded concerns after the Caixin/Markit manufacturing PMI for April, released on Tuesday, showed a greater-than-expected decline to 50.3, the lowest since last September.
Declines in base-metal prices had already helped to weigh the Australian dollar, which took another leg down after China Caixin Services PMI for April showed the sector's growth cooled to its slowest in nearly a year.
The Aussie was fetching $0.7403 U.S. late afternoon Thursday, down from around $0.7422 before the data's release, after falling from as high as $0.7545 in Wednesday Asian trade amid the metals price falls.
Among the banks, NAB was down 0.5% erasing earlier gains. The bank reported first-half cash profit rose 2.3% to A$3.29 billion, beating a forecast for A$3.24 billion
Other banks also stumbled, with ANZ down 1.7%, extending Wednesday's 2.8% fall, while CBA fell 0.8% and Westpac lost 1.2%
The Fed concluded its two-day policy meeting Wednesday afternoon, giving a positive assessment of the U.S. economy while keeping rates unchanged, as was widely expected
In other markets
Shanghai’s CSI 300 docked 8.74 points, or 0.3%, to 3,404.39
In Korea, the Kospi hit a new record high, gaining 21.57 points, or 1%, to 2,241.24 after being closed Wednesday.
In Taiwan, the Taiex Index moved up 12.31 points, or 0.1%, to 9,967.64
In Singapore, the Straits Times Index slid 9.19 points, or 0.3%, to 3,228.62
In New Zealand, the NZX 50 faded 27.42 points, or 0.4%, to 7,378.42
In Australia, the ASX 200 doffed 15.97 points, or 0.3%, to 5,876.37
