Asian markets closed mixed in Wednesday trade, as Australian and Japanese energy names rose after oil touched a more than two year high overnight. Meanwhile, South Korea's Kospi index reversed early losses as blue-chip tech names rebounded.
The Nikkei 225 gained 18.52 points, or 0.1%, to 22,911.21, as trading houses saw gains while major exporters traded mixed, with Toyota closing 0.3% higher.
Meanwhile, energy-related names recorded solid gains after oil prices touched their highest levels in more than two years on Tuesday. Inpex rose 2.3% and Japan Petroleum Exploration advanced 3.3% on the day.
The Hang Seng Index took on 19.65 points, or 0.1%, to 29,597.66
In Korea, blue-chip tech stocks, which had sold off in the last session, were a bright spot, while manufacturing names and financials recorded declines. Samsung Electronics rose 2.4% while Posco closed down 1.5%
South Korea's Hyundai Heavy Industries plunged 28.8% after it announced Tuesday that it intended to list Hyundai Oilbank in 2018. The move will likely raise some $1.2 billion through a share issue. Shares of holding company Hyundai Robotics fell 3.7%.
Australian markets were flat as gains by gold producers were offset by moderate losses in most other sectors. The S&P/ASX All Ordinaries Gold sub-index rose 2.3%. Energy-related names also advanced, with Santos climbing 1.5% by the end of the day.
Hong Kong lens manufacturer Sunny Optical lost 5.1% and AAC Technologies tumbled 4.8%. Apple suppliers in Taiwan fared better, having already recorded losses earlier this week on that news. Pegatron closed up 1.4% and Hon Hai Precision Industry was higher by 1.1%.
The U.S. dollar was mostly flat against the Japanese yen, last fetching 113.18, compared to the 113.19 seen on Tuesday. The release of inflation data out of Japan on Tuesday had shown that core consumer prices in Japan increased for 11 consecutive months.
Japan's Mitsubishi UFJ Financial Group said in a statement released Tuesday that it would be taking a 73.8% stake in Indonesia's Bank Danamon.
The deal will take place in three stages and supports MUFG's push to expand its presence in the region. MUFG shares closed lower by 0.1% underperforming other Japanese banks on the day
CHINA
In Shanghai, the CSI 300 lost 62.41 points, or 1.5%, to 3,991.21, with technology, health care and financials among the worst-performing sectors on the day. In particularly, insurers were hit fairly hard: China Life fell 2.66 percent and Ping An Insurance lost 4.8%.
Meanwhile, profits made by Chinese industrial companies rose 14.9% compared to one year ago, reflecting the poorest growth figure since April this year. Industrial profits had risen 25.1% in October.
In other markets
In Korea, the Kospi index grew 9.33 points, or 0.4%, to 2,436.67
In Taiwan, the Taiex Index hiked 64.76 points, or 0.6%, to 10,486.67
In Singapore, the Straits Times Index added 13.51 points, or 0.4%, to 3,376.43
In New Zealand, the NZX 50 dropped 20 points, or 0.2%, to 8,376.43
In Australia, the ASX 200 inched up 0.16 points to 6,069.87
