Asia markets were lower on Thursday, with investors grappling with rising rates after strong U.S. economic data was released overnight.
In Japan, the Nikkei 225 fell another 135.34 points, or 0.6%, to 22,975.62. The Japanese yen largely held on to gains, at 114.31 against the U.S. dollar
In Hong Kong, the Hang Seng index plummeted 467.39 points, or 1.7%, to 26,623.87.
On Thursday, Toyota and Softbank announced that they were forming a joint venture called Monet Technologies. The company is expected to be formed by 2019 and will use data to optimize supply and demand in the transportation industry.
Following the announcement, shares of Toyota closed up by 0.6% Softbank's stock rose by 1.3%.
Korean markets listed lower, following news reports that Bank of Korea Governor Lee Ju-yeol hinted at a possible policy rate hike later in October.
Stocks of South Korea's cosmetics brands took a hit on the back of weak sentiment about Chinese consumers. Amorepacific shares dropped by 13% in the afternoon, while Cosmax fell 9.9%.
Australian markets moved upward, however, with the heavily weighted financial sector up 0.8% as Commonwealth Bank of Australia advanced by 0.5% and Australia and New Zealand Banking Group climbed up by 0.6%. Miner South32also saw its stock jumping by 7.3% on the back of South Africa's Exxaro expressing interest in its local coal assets.
Data had shown the country's trade surplus increasing for the month of August — above expectations from a Reuters poll. Net exports rose 1% month-on-month while imports were unchanged.
The Australian dollar remained weaker at $0.7087 U.S.
China's markets are closed for the Golden Week holidays.
In other markets
In Singapore, the Straits Times STI index dumped 35.81 points, or 1.1%, to 3,231.59
In Korea, the Kospi index returned to loss 35.08 points, or 1.5%, to 2,247.49
In Taiwan, the Taiex index stumbled 145.03 points, or 1.3%, to 10,781.91
In New Zealand, the NZX 50 slid 36.77 points, or 0.4%, to 9,257.18
In Australia, the ASX 200 bucked the negative trend and gained 30.23 points, or 0.5%, to 6,176.30
