Asian stocks closed mixed on Thursday, with major markets fading after initially trading higher on the back of Wall Street's earnings-led advance, while Chinese shares extended their losing streak.
In Japan, the Nikkei 225 lost 29.51 points, or 0.1%, to 22,764.68. Declines in consumer stocks and power companies weighed on the benchmark, although banks, steelmakers and semiconductor industry plays held onto gains, with Advantest rising 3.4%.
Meanwhile, the yen was mostly steady, trading at 112.81 to the U.S. dollar after touching its lowest level in around six months in the last session.
In Hong Kong, the Hang Seng fell 106.56 points, or 0.4%, to 28,010.86, the consumer and services stocks leading the declines.
Korean markets also fell, despite large cap tech stocks advancing. Steelmakers dropped after the European Union said it would initiate measures to target steel imports after the U.S. administration imposed tariffs on steel and aluminum earlier this year. Posco finished the day lower by 1.4%.
Australian markets were ahead, as industrials and heavily weighted financials rose. The Australian dollar pared gains made on the back of better-than-expected jobs data, trading at $0.7392 U.S.
CHINA
In Shanghai, the CSI 300 dropped 2.98 points, or 0.1%, to 3,428.34
Airline stocks slumped amid the weaker yuan, with Air China and China Eastern Airlines each fell 5%.
Meanwhile, the yuan slipped further against the dollar after the Chinese central bank set the official mid-point at 6.7066 to the dollar, past the key 6.7 level. The on-shore yuan traded at 6.7494 to the dollar after touching a one-year low earlier in the session.
In other markets
In Singapore, the Straits Times Index lost 2.98 points, or 0.1%, to 3,248.34
In Taiwan, the Taiex index slid 7.08 points, or 0.1%, to 10,835.38
In Korea, the Kospi index retreated 7.82 points, or 0.3%, to 2,282.29
In New Zealand, the NZX 50 shed 28.5 points, or 0.3%, to 8,917.59
In Australia, the ASX 200 gained 17.59 points, or 0.3%, to 6,262.70
