Markets in Asia trimmed early losses to trade mixed Thursday, despite a lower finish on Wall Street after the Federal Reserve appeared to temper its expectations for U.S. economic growth.
In Japan, the Nikkei 225 slumped 122.47 points, or 0.7%, to 17,041.45
The Hang Seng index in Hong Kong hiked 143.38 points, or 0.8%, to 19,195.83
Overnight, the Fed opted not to raise interest rates at its January meeting and gave no indication that it was changing course on its rate-hiking path ahead.
Energy plays around the region were mixed, with Australia's Santos gaining 2.1%, and Woodside closing up 1.5%. But Japan's Inpex was down 2.7%, Japan Petroleum was lower by 2.4% and South Korea's S-Oil slipped 1.7%.
Hong Kong-listed shares of CNOOC were up 1.1%, while mainland-listed shares of China Petroleum erased gains to close down 0.5%; in late-afternoon trade, shares were up as much as 2.5%.
In Seoul, shares of tech giant Samsung Electronics closed down 2.6%. Before market open, the company reported its October-December operating profit rose 16.2% on-year, in line with its earlier guidance. While the company issued a tepid outlook due to expectations of challenging smartphone sales, it also announced plans for a share buyback.
Elsewhere, shares of Sharp gained 3.8% after Taiwanese manufacturer Foxconn provided further details of their takeover bid to the electronics maker and its lenders.
Reuters reported that part of its 600-billion-plus yen takeover bid included a promise to not cut jobs, citing a source familiar with the matter. Foxconn founder and chairman Terry Gou has also reportedly met government officials to discuss the offer, the report said.
Shares of Hon Hai Precision Industry, Foxconn's trading name, were down 0.3%.
Japan announced retail sales for December, which fell 1.1% on-year, according to government data, showing some weakness in household demand.
Retail stocks were mixed, with Fast Retailing falling as much as 1.7% before paring some losses to close 1.3% lower. Seven & I was down 0.2%, Takashimaya up 0.4% and Aeon gaining 0.1%.
Major Japanese exporters Toyota, Honda and Sony closed mostly lower. The U.S. dollar-yen pair was flat at 118.69 after falling as much as 118.39 earlier in the session. A stronger yen is a negative factor for exporters as it diminishes their overseas profits when converted back into local currency.
The Bank of Japan started its two-day policy meeting on Thursday.
Shares of South Korea-based internet company Naver lost 6.4% as the company reported a 5% jump in on-year profit for the October-December quarter, which fell short of expectations.
On the upside, shares of Australian ports and rail giant Asciano gained 4% on the back of a fresh takeover bid.
Australian port operator Qube Holdings announced that state-owned China Investment Corp. had joined a consortium to make another takeover offer for Asciano.
In other markets
The CSI 300 Index fell 76.6 points, or 2.6%, to 2,853.76.
In Singapore, the Straits Times Index took on 16.27 points, or 0.6%, to 2,562.45
The Kospi in Korea added 9.07 points, or 0.5%, to 1,906.94
Taiwan’s Taiex index moved up 55.27 points, or 0.7%, to 7,905.10
In New Zealand, the NZX 50 regained 7.76 points to 6,141.94
In Australia, the ASX 200 index improved 29.72 points, or 0.6%, to 4,976.16
