Equity markets in Japan posted modest gains on Wednesday as stronger earnings buoyed construction firms and real estate developers, but Toyota Motor and other cyclical shares buckled under concerns about slower global growth.
In Japan, the Nikkei 225 index moved higher 93.70 points, or 0.5%, to 20,614.06
In Hong Kong, the Hang Seng Index regained 108.04 points, or 0.4%, to 24,514.16
Construction firms were helped by earnings from Kajima Corp , which rose more than 6% to a nine-year high after reporting April-June operating profit rose 76%.
But Nikkei heavyweight Fast Retailing shed 4.7% after the Uniqlo clothing chain operator said its domestic store sales fell in July for the second straight month.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 137.36.
A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa.
CHINA
China stocks fell on Wednesday, shrugging off a vow by the central bank to stabilise market expectations and a private survey which showed activity in the services sector activity accelerated last month.
In China, the CSI 300 removed 81.25 points, or 2.1%, to 3,866.90
With major benchmark indexes still down some 25% since mid-June, investor confidence remains shaky even after a flurry of unprecedented market support measures from Beijing in recent weeks, analysts said.
While activity in China's services sector expanded at its fastest pace in 11 months in July, the composite output index which covers both factory and services activity fell to 50.2 from 50.6, barely in positive territory and reflecting a growing drag from weakness in manufacturing.
China's central bank promised to "stabilize financial market expectations" on Tuesday, saying it will head off risks in the latest show of official resolve to keep the economy on an even keel.
In other markets
Singapore’s Straits Times Index inched up 0.35 points to 3,191.39
In Taiwan, the Taiex index picked up 31.41 points, or 0.4%, to 8,542.27
In Korea, the Kospi index gained 1.77 points, or 0.1%, to 2,029.76
The NZX 50 added 4.76 points, or 0.1%, to 5,938.51
The ASX 200 Index subtracted 23.92 points, or 0.4%, to 5,673.98
