Asian stocks closed mostly higher on Thursday, as several regional markets shrugged off weakness seen overnight on Wall Street.
The Nikkei 225 Index regained 127.37 points, or 0.6%, to 21,159.08, as consumer stocks recorded overall gains.
Despite the broader gains, the pharmaceuticals sector declined as shares of Takeda Pharmaceutical dropped 7.5%. Takeda said Wednesday that it was at "a preliminary and exploratory stage" regarding a possible bid for U.K. drug maker Shire.
Against the yen, the U.S. dollar pared some of its overnight gains to trade at 106.66, compared to a high of 106.92 seen earlier. The dollar traded at levels around the 105 handle at the beginning of the week.
On the data front, retail sales in Japan increased 1.6% in February compared to one year ago, slightly missing a forecast of a 1.7% rise.
The Hang Seng Index recovered 100.3 points, or 0.3%, to 30,122.83. The technology sector remained under pressure before the market close, lagging the broader index. Late Thursday, heavyweight Tencent traded flat and Apple supplier AAC Technologies was down 0.6% after Apple declined in U.S. trade amid a selloff seen in tech names.
Korean stocks perked, as losses in automakers and shipmakers were offset by gains in steelmakers and banks. Large cap Samsung Electronics rose 0.7%.
In Australia, the materials sector declined 1.1%, and gold producers lagged the broader market 1.9%
CHINA
The CSI 300 recouped 51.33 points, or 1.3%, to 3,894.05, as mainland banks and insurers notched gains.
Trade issues also continued to simmer as global markets watched for developments in U.S.-China trade ties after President Donald Trump signed an executive memorandum earlier this month that could put tariffs on up to $60 billion in Chinese goods.
China was still weighing the possibility of imposing curbs on U.S. soybean imports.
Investors also took note of developments ahead of potential talks between the U.S. and North Korea after China confirmed that North Korean leader Kim Jong Un met with Chinese President Xi Jinping for talks.
In other markets
In Taiwan, the Taiex dropped 19.74 points, or 0.2%, to 10,845.92
In Korea, the Kospi restored 17.08 points, or 0.7%, to 2,436.37
In Singapore, the Straits Times Index picked up 54.24 points, or 1.6%, to 3,437.02
In New Zealand, the NZX 50 withered 69.01 points, or 0.8%, to 8,319.07
The ASX 200 slumped 30.1 points, or 0.5%, to 5,759.37
