Asian markets were mixed early afternoon after a short-lived recovery, even as oil prices jumped nearly 1% and the U.S. dollar weakened.
Markets in Japan were shuttered for Culture Day.
The Hang Seng Index in Hong Kong continued its descent, losing 126.99 points, or 0.6%, to 22,683.51
Korean markets were up slightly, as that country’s economy faces multiple domestic challenges, including a shipping industry restructuring, natural disasters and a presidential crisis. After a cabinet reshuffle announced on Wednesday, the new finance minister designate Yim Jong-yong said he would keep macroeconomic policy accommodative in order to stabilize the economy
Australian markets tailed off a mite, despite gains in their gold sub-index, which was up 3.4% and energy sub-index, which rose 0.7%.
Australia-based real estate advertiser REA Group fell 3.8% to A$47.50, after Deutsche Bank cut its target price to A$49.50 from A$54, on the back of a weak property listing environment.
Shares in ANZ, one of Australia's "Big Four" banks, gained 0.6% to A$27.345. The lender reported that annual cash profit fell 18% on-year, missing a poll estimate of a 15% decline.
ANZ also said it may sell its Australian insurance and wealth business to free up about A$5 billion ($3.82 billion U.S.) of capital. On Monday, Singapore's DBS announced it would acquire ANZ's retail banking and wealth management units in Singapore, Hong Kong, China, Taiwan and Indonesia.
CHINA
The CSI 300 in Shanghai regained 31.73 points, or 1%, to 3,365.08
Before the Chinese markets' open, a Caixin PMI survey showed that service sector activity picked up strongly on-month in October to come in at 52.4. A reading above 50 indicates an expansion in activity.
In other markets
In Korea, the Kospi picked up 4.86 points, or 0.3%, to 1,983.80
The Straits Times Index in Singapore slid 5.06 points, or 0.2%, to 2,802.08
In Taiwan, the Taiex Index fell 71.77 points, or 0.8%, to 9,067.27
In New Zealand, the NZX 50 plummeted 74.81 points, or 1.1%, to 6,778.94
In Australia, the ASX 200 dropped 3.44 points, or 0.1%, to 5,225.56
