Most Asian stocks couldn't hold early gains on Thursday, as concerns about the health of the U.S. housing and financial markets remained firmly in place even after the Federal Reserve left interest rates unchanged and sharpened its focus on inflation.
In Tokyo, the benchmark Nikkei 225 index edged down 0.05 percent to 13,822.32; while Hong Kong's Hang Seng Index dropped 0.8% to 22,455.67.
Japan's top automaker, Toyota Motor Corp., rose 0.2 percent, and its rival Nissan Motor Co. was 0.4 percent higher. The country's top oil refiner Nippon Oil Corp. dropped 3.1 percent.
Sony Corp. rose 2.8 percent. The company on Thursday outlined its strategy for growth geared at regaining its lead in TVs, wiping out the red ink in video games and investing 1.8 trillion yen (US$16.7 billion) in future technology.
Mainland China's most-watched index was virtually unchanged following a modest rally this week on bargain-hunting. The benchmark Shanghai Composite Index closed down 0.1 percent at 2,901.85 points.
Shares in China Southern Airlines, the country's biggest carrier by passenger numbers, rose by 5.2 percent after high oil prices eased slightly Wednesday on Asian markets.
Elsewhere:
Australia's S&P/ASX200 index climbed 1.3 percent as banking stocks recovered.
India's Sensex index rose 1.4 percent.
South Korea's Kospi ended little changed at 1,717.66.
Taiwan's Weighted index, or Taiex, dropped 0.6% to 7,811.80.
Singapore's Straits Times Index rose 0.1% to 2,989.48.
with files from other wire services
