Asian markets closed sideways after cautious trade on Thursday as oil prices declined further.
The Nikkei 225 fell 28.28 points, or 0.1%, to 20,110.51
The Hang Seng Index deducted 20.05 points, or 0.1%, to 25,674.53
Meanwhile, the Nikkei broke down the ownership stakes proposed by a government-led consortium in Toshiba's memory chip business. The consortium was selected as a preferred bidder for the memory unit yesterday.
The Innovation Network Corporation of Japan would own 50.1% of the stock and the Development Bank of Japan would own 16.5%.
Bain Capital and SK Hynix will have a share in the leftover 33.4%. Nikkei said the proposal potentially gives the latter two companies veto power.
Shares of Toshiba closed 0.3% lower at 322.1 yen per share and SK Hynix finished the session higher by 0.3% at 65,000 won.
Autoparts maker Takata mayfile for bankruptcy next Monday, media reports stated on Thursday. Shares of the company closed 54.9% down at 110 yen.
Australian markets found a way up, with energy and materials stocks showing signs of recovery after selling off in the previous session.
Most Australian energy stocks made gains even though oil stocks in South Korea and Japan remained in negative territory. Oil and gas producer Santos was up 1% and Oil Search was up 2.2% at the close.
Oil prices gave up earlier gains to trend lower. U.S. West Texas Intermediate edged lower by 0.4% to trade at $42.36 a barrel and Brent crude was down by 0.4% at $44.63 U.S.
Prices had fallen more than 2% overnight despite the U.S. Energy Information Administration announcing that inventories had fallen more than expected.
On the economic calendar for Thursday, Hong Kong released first-quarter current account data. Taiwan's central bank was to announce its policy decision after the market closed.
The U.S. dollar was softer against the yen, which traded at 111.14 to the dollar late afternoon in Asia
The New Zealand dollar reached $0.7275, near a four-month high, after the Reserve Bank of New Zealand kept interest rates on hold compared to levels around the $0.721 handle seen earlier. The kiwi last traded at $0.7251.
CHINA
The CSI 300 eked up 2.38 points, or 0.1%, to 3,590.34
Wanda Film Holding shares were suspended from trade on the Shenzhen exchange after tumbling 10%. Bonds issued by the Dalian Wanda Group declined by 1.8% today
The company said that there had been internet speculation about its bonds, but Dalian Wanda added that those were "just rumours" and that "all (of its) operations are fine."
In other markets
In Taiwan, the Taiex index gained 49.34 points, or 0.5%, to 10,399.06
In Korea, the Kospi index recovered 12.84 points, or 0.5%, to 2,370.37
In Singapore, the Straits Times Index added 13.78 points, or 0.4%, to 3,215.55
In New Zealand, the NZX 50 regained 36.59 points, or 0.5%, to 7,563.70
In Australia, the ASX 200 moved up 40.23 points, or 0.7%, to 5,705.95
