Malaysian shares skidded and Indian shares rode out a volatile session Thursday, in the aftermath their respective governments' moves to hike fuel prices sharply to ease the burden on national finances.
The price increases also sparked public demonstrations in Kuala Lumpur, while strikes called by the communist party allies of India's ruling coalition government shut down transportation, business and schools in some Indian states, according to reports.
India also raised prices of gasoline and diesel by about 10 percent on Wednesday, while Malaysia increased gas prices by as much as 41 percent.
China's benchmark Shanghai Composite Index fell 1.9 percent to 3,369.91, while Hong Kong's blue chip Hang Seng Index dropped 1 percent to 24,123.25, as investors held back ahead of the release of U.S. employment data Friday.
Tokyo's benchmark Nikkei 225 index gained 1.6 percent to 14,435.57 on buying of export-related shares due to the yen's weakness, which makes Japanese goods more competitive overseas.
Toyota Motor Corp. gained 3.2 percent while rival Honda Motor Co. jumped 8.6 percent. Sony Corp. rose 2.8 percent.
Elsewhere:
The Korea Composite Stock Price Index, or Kospi, gained 0.8 percent to 1,833.81.
Taiwan shares were up 0.6 percent to 8,627.80.
In Australia, the benchmark S&P/ASX 200 edged 0.2 percent higher to 5,584.50.
New Zealand's NZX 50 index slipped 0.1% to 3,555.97.
with files from other wire services
