Asian shares were mixed on Wednesday, with traders eyeing moves in oil prices ahead of a flurry of Chinese data later in the week.
The Nikkei 225 turned lower 29.85 points, or 0.2%, to 16,735.12.
In Hong Kong, the Hang Seng Index regained 26.82 points, or 0.1%, to 22,492.43
Japanese data showed machinery orders rose more than expected in June, a sign that companies were more willing to increase their capital expenditure, according to Reuters.
Core orders for June were up 8.3% on-month compared to a median forecast that predicted a 3.1% increase. Manufacturers' orders rose 17.7%, while orders from the services sector were up 2.1%.
The better-than-expected data failed to give stocks a boost in Japan as a relatively stronger yen weighed. The Japanese currency traded at 101.33 against the U.S. dollar in Asian trade on Wednesday, compared to levels over 102.2 earlier in the week.
Japanese export stocks traded mostly lower, with Toyota down 1.1%, Honda down 1% while Nissan shares were lower by 0.1%.
Major oil players in the region were mostly lower, Australia's Santos slipped 1.7% and Oil Search was down 1.3%; Japan's Inpex slipped 0.8%, while China's Petrochina was flat.
In earnings news, Australia's biggest bank, the Commonwealth Bank of Australia, said its cash profits rose 3% for full-year 2016 to 9.45 billion Australian dollars ($7.26 billion U.S.). The bank announced a final dividend of A$2.22 per share.
On Wednesday, in his last speech as the Reserve Bank of Australia (RBA) governor, Glenn Stevens downplayed concerns that the central bank might take drastic measures to meet inflation targets. Stevens also emphasized that monetary policy had its limits, especially considering that Australian household debt levels were high
CHINA
The Shanghai CSI 300 slid 13.64 points, or 0.4%, to 3,243.34
Investors awaited important data out of China due Friday, including industrial production, fixed asset investment and retail sales.
In other markets
The Taiex Index in Taiwan added 45.34 points, or 0.5%, to 9,200.42
In Korea, the Kospi nicked up 0.86 points to 2,044.64
In Singapore, the Straits Times Index returned to trading with a gain of 4.79 points, or 0.2%, to 2,875.57
In New Zealand, the NZX 50 dropped 13.55 points, or 0.2%, to 7,349.61
The ASX 200 stumbled 8.84 points, or 0.2%, to 5,543.71
