Leading stock indexes in South Korea and China ended at record highs on Wednesday, while Japanese issues were little changed after data showed weaker-than-expected February core-machinery orders.
In Tokyo, the benchmark Nikkei 225 index gained 5.38 points, or 0.03 percent, to finish at 17,670.07 while in Hong Kong, the blue chip Hang Seng Index advanced 101.56 points, or 0.5 percent, to 20,449.43.
Canon Inc. advanced 1.07 percent, while Eisai Co. added 0.51 percent. Real estate stocks also did well, with Mitsubishi Estate Co. gaining 0.28 percent.
In China, a recent rally inspired retail investors to snap up shares, pushing up the benchmark Shanghai Composite Index 1.5 percent to 3,495.22 -- the eighth straight record high.
Turnover was a record 157.82 billion yuan (US$20.4 billion, euro15.19 billion). Ample liquidity has helped Shanghai's index rise 20 percent since mid-March.
The Shenzhen Composite Index also hit an eighth straight record in as many sessions, climbing 1.1 percent to 928.28.
Elsewhere:
MANILA: Philippine shares slid as investors cashed in on the market's five-day rise. The 30-company Philippine Stock Exchange Index shed 10.21 points, or 0.31 percent, to 3,294.21.
SEOUL: South Korean shares touched a record high, led by LG.Philips LCD Co. The Korea Composite Stock Price Index rose 14.26 points, or 1 percent, to 1,513.42.
TAIPEI: Taiwan shares rose, buoyed by a strong showing in the panels sector. The Weighted Price Index of the Taiwan Stock Exchange gained 22.85, or 0.3 percent, to close at 8,071.24.
WELLINGTON: New Zealand stocks slipped back in a market hamstrung by a lack of liquidity, and brokers expect further losses in coming sessions if thin trading activity continues. The benchmark NZX-50 fell 33.1 points, or 0.8 percent, to 4147.36.
SYDNEY: A last-minute fall left the Australian Stock Exchange finishing flat as a lack of direction from offshore and investors taking profits took their toll. The benchmark S&P/ASX200 index gave back 1.6 points to close at 6,151.4 after touching a record high of 6,176.9 during the day. The All Ordinaries index finished flat at 6,136.1.
With files from wire services
