Dhaka, Bangladesh (BBN) - Asia-Pacific markets largely rose on Thursday after Japan’s GDP growth beat expectations, while traders also digested China retail sales, industrial output and urban unemployment data for July.

China’s retail sales grew 2.7% year on year, beating expectations for a 2.6% growth from economists polled by Reuters. Industrial output on the other hand, grew 5.1% compared to forecasts of 5.2%. The urban unemployment rate climbed slightly to 5.2% from 5% in June, reports CNBC.

Japan’s second-quarter gross domestic product beat market expectations on a quarter-on-quarter basis, climbing 0.8% compared to forecasts of a 0.5% rise from economists polled by Reuters.

This was also a reversal from the revised 0.6% fall seen in the first quarter.

However, on a year-on-year basis, the country’s GDP fell for a second straight quarter, down 0.8% and extending from the first quarter’s contraction of 0.9%.

Japan’s Nikkei 225 as well as the broader Topix rose over 1%.

Australia’s S&P/ASX 200 rose 0.3%, after its unemployment rate for July ticked up 0.1 percentage point to 4.2%. The country’s participation rate also climbed to 67.1%, beating the 66.9% expected by economists polled by Reuters.

Hong Kong’s Hang Seng index rose 0.51%, while mainland China’s CSI 300 gained 1.15%.

South Korea’s and India’s markets are closed for a public holiday.

Wall Street stocks rose overnight after U.S. inflation data met market expectations.

U.S. consumer prices increased 2.9% year over year, down from 3% in June and the lowest reading since March 2021, the Bureau of Labor Statistics said on Wednesday. Month-over-month, prices ticked up 0.2%.

Economists polled by Dow Jones expected a 0.2% increase from the prior month and a 3% gain year-over-year.

The Dow Jones Industrial Average gained 0.61%. The S&P 500 rose 0.38% and marked its fifth straight winning day, while the Nasdaq Composite reversed earlier losses to close 0.03% higher.

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Japan's Nikkei 225 fell 0.66 percent to close at 21,042.09, marking its fourth straight session of losses, reports CNBC.com.

Monday's declines also saw the Nikkei touch its lowest levels since October. The Topix index ended down 0.79 percent. Across the Korean Strait, the Kospi closed lower by 1.13 percent.

Chinese mainland markets reversed early losses to close slightly higher, with the Shanghai composite finishing up 0.09 percent. The Shenzhen composite wavered between gains and losses to close higher by 0.47 percent. Meanwhile, the ChiNext start-up board climbed 1.2 percent to outperform the benchmark.

China's National People's Congress meeting kicked off on Monday morning, with Premier Li Keqiang announcing a 2018 growth target of around 6.5 percent. For the next two weeks, the large rubber-stamp parliament will move on to pass major bills, approve the budget and endorse personnel nominations.

Defense stocks listed on the mainland got a slight boost after it was announced that China would increase its military budget by 8.1 percent, with Avicopter up 1.58 percent.

In Hong Kong, the Hang Seng index declined 1.42 percent by 3:00 p.m. HK/SIN, with large cap financials leading losses an hour before the market close.

Down Under, the benchmark ASX 200 fell 0.57 percent to close at 5,895, its lowest levels since the middle of last month. The heavily-weighted financial sub-index finished the day down 0.73 percent and material stocks lost 1.13 percent.

Australian banking names mostly fell: Shares of Commonwealth Bank declined 0.92 percent and Westpac was down 1.24 percent. Major mining stocks were also lower, with Fortescue losing 3.26 percent by the end of the day.

The session in Asia followed a mixed finish at Wall Street on Friday as investors remained focused on President Donald Trump's announcement last week that he would introduce tariffs on steel and aluminium imports.

Vishnu Varathan, head of economics and strategy at Mizuho Bank, wrote in a Monday morning note that the jury was still out until Trump signed off on the tariffs and revealed more details.

"Escalation in U.S.-Eurozone rhetoric on retaliatory measures heighten risks of cross-Atlantic trade wars," Varathan wrote. "Especially after Trump's trade adviser Navarro ruled out exemptions; potentially alienating allies like Canada, Japan, EU, UK and South Korea."

The "scope for knock-on impact across Asia, while mixed, is undeniable," he added.

NO CLEAR MAJORITY IN ITALIAN ELECTION

As of Sunday night local time, Italian exit poll projections indicated that a center-right bloc will gain the most seats in parliament.

Elsewhere, Germany's Social Democrats backed another coalition deal with Chancellor Angela Merkel's conservatives on Sunday, Reuters reported. That would allow Europe's largest economy to form a new government and mitigate political uncertainty.

The euro edged lower in the afternoon, trading at $1.2288 at 2:47 p.m. HK/SIN. The common currency advanced from levels below $1.2180 — reached in the previous week — to as high as $1.2365 on Monday.

Analysts said the bounce in euro was due to the news out of Germany.

"The gains were, however, quickly returned as reality sank in that German leadership has weakened with many challenges lying ahead for Merkel," Philip Wee, a foreign-exchange strategist at Singapore's DBS Bank, wrote in a morning note.

He added that as Italy's political parties work to try and form a government, the euro will "likely lose support."

DOLLAR STEADY

The greenback traded sideways on Monday against a basket of currencies, with the dollar index at 90.063 at 2:48 p.m. HK/SIN.

The index fell from levels above 90.500 in the previous week, following concerns over a potential trade war following Trump's tariff announcement.

"A full-scale trade war is not good for global growth and risk sentiment," Rodrigo Catril, a senior foreign-exchange strategist at the National Australia Bank, wrote in a note.

He explained that trade tariffs would likely be inflationary and may invite the risk of retaliation from U.S. trading partners. He added that the reaction from China and other U.S. trading partners to an official trade tariffs announcement will be important.

"For currencies the initial reaction to U.S.-led trade tensions is a negative for the dollar," Catril said. "But we think that an escalation of these tensions will result in a differentiation between safe haven currencies and currencies from small open economies."

He added that the Australian dollar, Canadian dollar, New Zealand dollar and emerging market currencies were "unlikely to be winners" under such a scenario.

Among currency majors, the yen traded at 105.49 to the dollar, strengthening from levels above 107 in the previous week.

The Japanese currency firmed on Friday after Bank of Japan Governor Haruhiko Kuroda indicated the central bank would think about exiting easy monetary policy if inflation targets are met in fiscal 2019.

Major exporters in Japan declined on the back of the firmer yen. Shares of Toyota fell 1.47 percent, Honda was down 2.12 percent and Sony slipped 0.13 percent. A strong yen is usually a negative for exporters as it reduces their overseas profits when converted into the local currency.

The Australian dollar traded at $0.7738, while the British pound fetched $1.3782.

Oil prices traded higher on Monday, with U.S. crude up 0.23 percent at $61.39 a barrel while global benchmark Brent rose 0.31 percent to $64.57.

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Japan's Nikkei 225 fell 0.97 percent in afternoon trade, while the Topix index was down 1.08 percent, CNBC.com.

Across the Korean Strait, the Kospi was down 1.02 percent.

Chinese mainland markets fell, with the Shanghai composite down 0.16 percent. The Shenzhen composite wavered between gains and losses to trade up 0.11 percent.

China's National People's Congress meeting kicked off on Monday morning, with Premier Li Keqiang announcing a 2018 growth target of around 6.5 percent. For the next two weeks, the large rubber-stamp parliament will move on to pass major bills, approve the budget and endorse personnel nominations.

In Hong Kong, the Hang Seng index declined 1.13 percent.

Down Under, the benchmark ASX 200 fell 0.66 percent, with the heavily-weighted financial sub-index down 0.92 percent.

Australian banking names mostly fell: Shares of ANZ were down 0.81 percent, Commonwealth Bank declined 1.03 percent, Westpac was down 1.51 percent and the National Australia Bank declined 0.8 percent. Major mining stocks were also lower, with Fortescue losing 3.36 percent.

The session in Asia followed a mixed finish at Wall Street on Friday as investors remained focused on President Donald Trump's announcement last week that he would introduce tariffs on steel and aluminium imports.

Vishnu Varathan, head of economics and strategy at Mizuho Bank, wrote in a Monday morning note that the jury was still out until Trump signed off on the tariffs and revealed more details.

"Escalation in U.S.-Eurozone rhetoric on retaliatory measures heighten risks of cross-Atlantic trade wars," Varathan wrote. "Especially after Trump's trade adviser Navarro ruled out exemptions; potentially alienating allies like Canada, Japan, EU, UK and South Korea."

The "scope for knock-on impact across Asia, while mixed, is undeniable," he added.

NO CLEAR MAJORITY IN ITALIAN ELECTION

As of Sunday night local time, Italian exit poll projections indicated that a center-right bloc will gain the most seats in parliament.

Elsewhere, Germany's Social Democrats backed another coalition deal with Chancellor Angela Merkel's conservatives on Sunday, Reuters reported. That would allow Europe's largest economy to form a new government and mitigate political uncertainty.

The euro remained relatively steady, trading at $1.2320 at 12:58 p.m. HK/SIN. The common currency advanced from levels below $1.2180 — reached in the previous week — to as high as $1.2365 on Monday.

Analysts said the bounce in euro was due to the news out of Germany.

"The gains were, however, quickly returned as reality sank in that German leadership has weakened with many challenges lying ahead for Merkel," Philip Wee, a foreign-exchange strategist at Singapore's DBS Bank, wrote in a morning note.

He added that as Italy's political parties work to try and form a government, the euro will "likely lose support."

DOLLAR STEADY

The greenback traded sideways on Monday against a basket of currencies, with the dollar index at 89.957 at 12:59 p.m. HK/SIN.

The index fell from levels above 90.500 in the previous week, following concerns over a potential trade war following Trump's tariff announcement.

"A full-scale trade war is not good for global growth and risk sentiment," Rodrigo Catril, a senior foreign-exchange strategist at the National Australia Bank, wrote in a note.

He explained that trade tariffs would likely be inflationary and may invite the risk of retaliation from U.S. trading partners. He added that the reaction from China and other U.S. trading partners to an official trade tariffs announcement will be important.

"For currencies the initial reaction to U.S.-led trade tensions is a negative for the dollar," Catril said. "But we think that an escalation of these tensions will result in a differentiation between safe haven currencies and currencies from small open economies."

He added that the Australian dollar, Canadian dollar, New Zealand dollar and emerging market currencies were "unlikely to be winners" under such a scenario.

Among currency majors, the yen traded at 105.47 to the dollar, strengthening from levels above 107 in the previous week.

The Japanese currency firmed on Friday after Bank of Japan Governor Haruhiko Kuroda indicated the central bank would think about exiting easy monetary policy if inflation targets are met in fiscal 2019.

Major exporters in Japan declined on the back of the firmer yen. Shares of Toyota fell 1.76 percent, Honda was down 2.36 percent and Sony slipped 0.95 percent. A strong yen is usually a negative for exporters as it reduces their overseas profits when converted into the local currency.

The Australian dollar traded at $0.7753, while the British pound fetched $1.3799.

Oil prices traded higher on Monday, with U.S. crude up 0.38 percent at $61.48 a barrel while global benchmark Brent rose 0.39 percent to $64.62.

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Tokyo, Japan (BBN) - Asian markets traded mixed and the dollar slid to multi-month lows against the yen on Wednesday.

The Nikkei 225 fell 1.33 percent, reversing gains seen earlier to trade at its lowest levels in four months ahead of the release of U.S. inflation data later in the day, reports CNBC.com.

The moves were accompanied by the dollar falling to 15-month lows against the yen.

Automakers traded in negative territory, with Toyota and Honda Motor lower by 2.63 percent and 1.8 percent, respectively. Technology shares were also mostly lower, with SoftBank Group declining 3.31 percent.

Toshiba bucked the trend to climb 1.28 percent. The company announced on Wednesday that it would appoint Nobuaki Kurumatani as chairman and chief executive.

Among other heavyweights, Fanuc Manufacturing fell 2.54 percent. Fast Retailing declined 1.27 percent in the afternoon.

Meanwhile, fourth-quarter Japan gross domestic product data released on Wednesday showed the economy grew at an annualized 0.5 percent, below a median forecast of 0.9 percent, Reuters reported.

Across the Korean Strait, the Kospi advanced 0.68 percent, with Samsung Electronics extending gains and climbing 2.82 percent. Other technology names were mixed: SK Hynix slipped 0.26 percent and LG Electronics lost 1.81 percent.

Shares of Lotte Corporation were down 5.57 percent after Lotte Group Chairman Shin Dong-bin was sentenced to two years and six months of jail as part of a wider political scandal in South Korea. Lotte Shopping stock was lower by 0.68 percent.

Down Under, the S&P/ASX 200 traded lower by 0.27, with the heavily weighted financials sub-index dragging on the broader index. The sector edged down by 0.83 percent as most of Australia's "Big Four" banks traded lower: Commonwealth Bank of Australia fell 3.01 percent and ANZ was lower by 0.34 percent.

In other individual stocks, Australian department store operator Myer jumped 4.67 percent after the retailer announced Wednesday that Chief Executive Richard Umbers was stepping down. The search for Umbers' replacement has commenced immediately, Myer said in a statement.

Hong Kong's Hang Seng Index rose 0.77 percent, with financials logging a strong performance. China Construction Bank added 1.94 percent, HSBC gained 1.38 percent and insurer AIA was flat.

Tech heavyweight Tencent rose 1.18 percent while other shares in the sector traded mixed, with Lenovo Group slipping 0.26 percent and Sunny Optical rising 2.44 percent.

Mainland markets trod water ahead of an upcoming long holiday. The Shanghai composite was lower by 0.3 percent while the Shenzhen composite slipped 0.17 percent.

It will be a shortened week for greater China markets, with mainland China markets closing from Feb. 15 to Feb. 21 and Hong Kong markets shut from Feb. 16 to Feb. 19 for the Lunar New Year. Other regional markets, including South Korea, Taiwan and Singapore, will also finish the week early due to the holiday.

Vietnam's markets were closed on Wednesday for the Lunar New Year holidays.

Meanwhile, markets awaited the release of U.S. inflation data on Wednesday during U.S. hours.

"A strong U.S. core CPI would likely lead to lower global equity prices, higher U.S. bond yields, and a stronger dollar against most currencies with the possible exception of the safe haven Swiss franc and yen," Joseph Capurso, a currency strategist at Commonwealth Bank of Australia, explained in a morning note.

The Dow Jones industrial average ended the session higher by 39.25 points, or 0.16 percent, at 24,640.45 after slipping as much as 180.24 points earlier in the day. Other major U.S. indexes also closed with gains.

Those gains were a continuation of the rebound from massive losses seen last week: Major U.S. indexes closed in correction territory on Thursday last week after sliding more than 10 percent below their 52-week highs. Markets had been concerned about rising interest rates influencing the Federal Reserve's interest rate hike path.

In currencies, the dollar index, which tracks the U.S. currency against a basket of six rivals, extended losses to trade at 89.440 by 12:01 p.m. HK/SIN. That was comparable to the 90 handle seen earlier this week.

Meanwhile, the yen rose to its highest levels in fifteen months. The dollar last traded at 106.86 after slipping as low as 106.82 earlier.

On the commodities front, oil prices were steady after settling little changed in the last session as markets focused on global oil supply and the softer dollar.

U.S. West Texas Intermediate was mostly flat at $59.20 per barrel. Brent crude futures edged up 0.16 percent to trade at $62.82.

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Japan's benchmark Nikkei 225, however, reversed early gains to closed down 0.65 percent, or 137.94 points, at 21,244.68 as markets resumed trade following a long weekend, reports CNBC.com.

The decline in the index came as the dollar slipped further against the Japanese yen, and was at odds with bounces seen in other regional markets following the recent sell-off in stocks.

Automakers finished the session mixed, with Toyota sliding 2.53 percent. Financials, which were in positive territory in the early going, gave up gains to trade lower, with Mitsubishi UFJ Financial Group shedding 1.46 percent by the end of the day.

Other blue chips also saw early gains erased: Fanuc Manufacturing ended the day lower by 0.69 percent and Fast Retailing closed down 1.11 percent.

Across the Korean Strait, the Kospi advanced 0.41 percent to finish the day at 2,395.19. Gains were driven by strong showings from tech heavyweights Samsung Electronics and SK Hynix, which surged 3.98 percent and 4.3 percent, respectively.

Automakers came under pressure: Hyundai Motor lost 0.97 percent while Kia Motors slid 2.28 percent by the end of the day. Manufacturing names were also downbeat. Steelmaker Posco declined 1.24 percent and Hyundai Steel shed 0.76 percent. LG Chem lost early gains to slide 2.02 percent on the day.

Down Under, the S&P/ASX 200 closed higher by 0.6 percent at 5855.9 as earnings season rolled on. The materials and gold sectors was among the best-performers on the day, while the heavily-weighted financials sector edged higher by 0.45 percent.

Meanwhile, National Australia Bank's business conditions index rose in January, indicating strong business activity in the country. The index stood at +19 index points for the month, above the long-run average of +5 index points, NAB said.

Greater China markets were also buoyant. Hong Kong's Hang Seng Index rose 1.54 percent by 3:14 p.m. HK/SIN as markets clawed back gains after falling into correction territory last week. Tech shares were were mixed, but index heavyweight Tencent extended gains, climbing 2.54 percent and contributing 72 points to the index's 381.53-point rise ahead of the market close.

Financials traded firmly in positive territory: HSBC gained 0.69 percent and China Construction Bank advanced 1.43 percent by 3:04 p.m. HK/SIN. Hong Kong Exchanges and Clearing was up 2.64 percent after the appointment of two new board members.

Property developers were also in the money, with China Evergrande Group up 3.29 percent by 3:05 p.m. HK/SIN. HNA Group unit Hong Kong International Construction Investment Group traded higher by 8.53 percent ahead of the close after it said it would sell two plots of land to Henderson Land Development for almost 16 billion Hong Kong dollars ($2.05 billion). Henderson shares were up 1.02 percent by 3:05 p.m. HK/SIN.

Trading volumes were lighter than usual, with southbound trading on the stock connect closed, ahead of the Lunar New Year holiday.

On the mainland, the Shanghai composite tacked on 1 percent to close at 3,185.6 and the Shenzhen composite gained 0.41 percent to end at 1,730.83. The blue chip CSI 300 index finished the day higher by 1.19 percent.

Indian markets were closed on Tuesday for a holiday.

U.S. markets on Monday continued their rebound from what was their worst week in two years, with major stock indexes recording gains of more than 1 percent. Last week's sell-off, initially triggered by concerns over rising interest rates, saw the Dow and S&P 500 lose 5.2 percent on the week.

The yield on the benchmark 10-year U.S. Treasury note touched a fresh four-year high in the last session. The 10-year Treasury yield stood at 2.85 percent after rising as high as 2.9 percent overnight.

Investors also digested the release of the Trump administration's $200 billion infrastructure plan.

CORPORATE NEWS

Honda Motor will recall around 350,000 cars in China due to an engine-related problem, Reuters reported. No accidents had been tied to the issue, Reuters said, citing Honda representatives. Honda shares closed down 1.71 percent.

Fujifilm Holdings finished the session down 3.23 percent. On Tuesday, Xerox shareholders Carl Icahn and Darwin Deason criticized a deal which would see Xerox sold to Fujifilm.

Meanwhile, China's Fosun is poised to buy a majority stake in French fashion house Lanvin, Reuters said, citing sources. Fosun shares were up 1.62 percent by 3:07 p.m. HK/SIN.

Elsewhere, shares of CapitaLand were up 2.02 percent by 2:47 p.m. HK/SIN after the developer announced Tuesday its post-tax profit for 2017 rose 30.3 percent to 1.55 billion Singapore dollars ($1.17 billion). Fourth-quarter post-tax profit declined 37.8 percent to S$267.7 million ($202.1 million).

DOLLAR SLIPS

In currencies, the greenback extended losses after paring some of last week's gains overnight as U.S. stocks rebounded. The dollar index, which tracks the U.S. currency against a basket of peers, slipped to trade at 89.898 by 2:45 p.m. HK/SIN.

Against the yen, the dollar pulled back to trade at 108.14, extending losses seen in the last session.

Japanese Prime Minister Shinzo Abe said Tuesday he was not yet decided on who would be the next governor of the Bank of Japan, Reuters reported. Finance minister Taro Aso said that the individual would have to be fluent in English. Media reports last week indicated current governor Haruhiko Kuroda would be re-appointed when his term ends in April, the news agency said, citing a source.

Meanwhile, the euro firmed to trade at $1.2320.

Oil prices edged up after finishing the previous session little changed. Brent crude futures added 0.62 percent to trade at $62.98 per barrel. U.S. West Texas Intermediate tacked on 0.57 percent at trade $59.63.

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Tokyo, Japan (BBN) - Most Asian indexes climbed on Thursday after last session's rally stalled late in the trading day.

Gains in the region followed the slightly lower close seen on Wall Street as U.S. bond yields rose, reports CNBC.com.

In Tokyo, the Nikkei 225 jumped 0.74 percent after closing barely in positive territory in the last session. Financials, automakers and manufacturers were higher in the morning: Toyota rose 2.41 percent, Fanuc Manufacturing gained 2.71 percent and Mitsubishi UFJ Financial Group was up 0.48 percent.

Technology shares were mixed: Nikon advanced 1.14 percent while Nintendo slid 1.34 percent.

Reinsurance company Swiss Re said it was in talks with SoftBank over a "potential minority investment." According to the Wall Street Journal, SoftBank is looking for an up to $10 billion stake in the company. Separately, the Japanese conglomerate announced on Wednesday it was making preparations to list its domestic telecommunications arm, SoftBank Corporation. Shares of SoftBank were lower by 0.28 percent.

In Seoul, the Kospi gained 0.49 percent after finishing in negative territory on Wednesday. Heavily weighted technology stocks gained in the morning, with Samsung Electronics trading higher by 1.14 percent following last session's tumble.

South Korean manufacturers were more downbeat. Steelmaker Posco clung to gains, but other manufacturing names traded in negative territory: Hyundai Steel shed 0.74 percent and Samsung Engineering declined 1.67 percent.

Down Under, the S&P/ASX 200 bucked the positive trend in the region to slip 0.09 percent, dragged lower by losses in the energy and materials sectors. Still, some of those losses were offset by gains in the heavily weighted financials sub-index, which rose 0.63 percent.

Hong Kong's Hang Seng Index rose 0.92 percent in the early going on strength in financials and property developers. HSBC traded higher by 0.94 percent and tech giant Tencent advanced 1.74 percent.

Wynn Macau stock popped 5.4 percent after resuming trade on Thursday. The pop in share price came after casino mogul Steve Wynn's departure as CEO and chairman of Wynn Resort on Wednesday following allegations of sexual misconduct, which Wynn denied.

Indexes on the mainland traded mixed after lagging other regional indexes in the last session: The Shanghai composite slid 0.75 percent while the Shenzhen composite rose by the same level. The release of China trade data is expected later during the day.

Also of note, the People's Bank of China on Thursday set the yuan midpoint at 6.2822 per dollar, its highest level in two and a half years.

On the earnings front, corporates in the region due to report results include Nissan Motor and Nikon.

CORPORATE NEWS

Shares of Rio Tinto fell 1.72 percent after the mining company on Wednesday announced a record full-year dividend of $5.2 billion, or $2.90 per share. That came as the company's underlying earnings for 2017 rose 69 percent to $8.63 billion. The miner also announced a $1 billion share buyback.

Among other individual movers, Australia's AMP bounced 2.68 percent after the wealth manager on Thursday announced a full-year profit of 1.04 billion Australian dollars ($813 million), which was more than double its profit the year before.

Singapore's DBS Group on Thursday announced that its fourth-quarter profit rose 33 percent to 1.22 billion Singapore dollars ($905 million), in line with the S$1.2 billion projected in a Thomson Reuters poll. DBS stock was up 3.27 percent.

US STOCKS FINISH IN THE RED, YIELDS RISE

U.S. stocks finished lower despite climbing earlier in the session, with the S&P 500 recording its largest one-day reversal since February 2016. The indexes pared early gains in afternoon trade following a rise in the yield of the 10-year U.S. Treasury note.

On Thursday, the yield on the 10-year Treasury note stood at 2.8113 percent during Asian trade.

The move higher in the yields also came amid news that U.S. Senate leaders had come to an agreement over a two-year budget agreement ahead of a Thursday deadline that would have resulted in a government shutdown.

Moves in the U.S. markets came after several volatile sessions of trade stemming from concerns over rising interest rates, which saw equities sharply sold off. Traders also blamed program trading for the steep declines.

CURRENCY WATCH

The greenback took a pause after firming overnight. The dollar index, which tracks the U.S. currency against a basket of rivals, traded at 90.239 at 9:35 a.m. HK/SIN, but remained above the 89 handle seen for most of the past two weeks.

Meanwhile, the dollar was mostly steady against the yen. The greenback had edged down against the yen overnight despite gaining against most other major currencies. The dollar traded at 109.24 yen at 9:35 a.m. HK/SIN.

The euro was stable at $1.2265, but traded near its overnight low of $1.2245. The currency's decline in the last session came despite news of a breakthrough in coalition talks in Germany.

Elsewhere, the New Zealand dollar slid to a one-month low after the country's central bank kept interest rates on hold earlier in the day. The kiwi dollar slipped 0.53 percent to trade at $0.7199.

Markets will also keep an eye on the Philippine central bank, which will make its interest rates decision later in the day.

On the commodities front, oil prices extended losses after touching their lowest levels in one month in the last session following data that showed U.S. crude inventories and production rose last week.

U.S. crude futures inched lower by 0.63 percent to trade at $61.40 per barrel after settling more than 2 percent lower on Wednesday. Brent crude futures shed 0.53 percent to trade at $65.16.

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Tokyo, Japan (BBN) - The rebound in Asian markets stalled on Wednesday as several indexes in the region gave up early gains to finish the session in negative territory, after major U.S. indexes finished their Tuesday session higher.

Japan's Nikkei 225 closed barely in positive territory after rising more than 3 percent earlier in the day, reports CNBC.com.

The benchmark closed higher by 0.16 percent, or 35.13 points, at 21,645.37 as investors stayed defensive following last session's tumble.

Automakers and technology names were broadly higher following broad-based declines seen in the last session: Toyota rose 1.18 percent, Sony gained 1.52 percent and SoftBank Group soared 3.81 percent by the end of the session.

Among other blue chips, Fanuc Manufacturing closed down 2 percent and Fast Retailing declined 1.41 percent.

South Korea's Kospi reversed early gains to finish the session lower by 2.31 percent at 2,396.56. Shares of tech heavyweight Samsung Electronics tumbled 3.42 percent, dragging on the broader index.

Other tech names were mixed at the end of the day, with SK Hynix advancing 1.28 percent.

Losses were also seen in the manufacturing, finance, energy sectors. Steelmaker Posco closed down 2.67 percent and Lotte Shopping tumbled 6.07 percent.

Over in Sydney, the S&P/ASX 200 bounced 0.75 percent to end at 5,876.8 as energy and materials stocks led gains.

Among major miners, Rio Tinto and BHP tacked on 3.82 percent and 1.81 percent, respectively. Energy-related stocks edged up: Santos advanced 1.62 percent and Beach Energy climbed 4.82 percent.

Gold producers were the worst-performers on the day, with the sector declining 1.96 percent.

Hong Kong's Hang Seng Index erased early gains to track lower by 0.76 percent at 3:04 p.m. HK/SIN. Tech giant Tencent clung to gains, climbing 1.22 percent ahead of the market close, but other index heavyweights fared less well: Developer China Evergrande Group slid 2 percent and China Unicom fell 2.69 percent.

Hong Kong-listed shares of Chinese banks were also in negative territory before the close, with China Construction Bank and Bank of China lower by 1.92 percent and 1.37 percent, respectively.

Meanwhile, mainland markets extended losses after last session's sell-off. The Shanghai composite declined 1.81 percent to close at 3,309.58 and the Shenzhen composite shed 0.68 percent to end at 1,714.39. The blue chip CSI 300 index finished lower by 2.38 percent.

Mainland financial stocks took a beating and were among the worst-performing sectors on Wednesday: Shares of Bank of China listed in Shanghai fell 3.57 percent and Industrial and Commercial Bank of China lost 5.94 percent by the end of the day. Among insurers, Ping An Insurance Group finished the session down 3.32 percent.

US STOCKS RECOVER

U.S. stocks closed higher on Tuesday after broadly slumping in the last two sessions. There was no obvious single reason behind massive losses seen stateside on Monday, but the sell-offs were blamed on concerns about rising interest rates, program trading and volatility funds that use leverage.

The rout in global stock markets also saw Asian and European shares sell off in the last session.

The declines overnight were characterized by analysts as a correction rather than a sell-off driven by fundamentals.

"We don't think this is the beginning of meaningful and sustained weakness for markets, but volatility is back and investor confidence has taken a hit," said David Lafferty and Esty Dwek Roditi, Natixis Investment Managers global chief strategist and investment specialist, respectively.

In currencies, the dollar index, which tracks the greenback against six major rivals, was softer at 89.585. At 2:50 p.m. HK/SIN, the dollar edged down against the yen to trade at 109.22, below Tuesday's close of 109.59.

The Australian dollar edged lower against the greenback to trade at $0.7872.

Meanwhile, U.S. West Texas Intermediate futures advanced 0.8 percent to trade at $63.90 per barrel after settling lower by more than 1 percent in the last session. Brent crude futures added 0.88 percent to trade at $67.45.

CORPORATE NEWS

Trade in the shares of Wynn Macau was halted on Wednesday, the Hong Kong stock exchange said in a notice.

The trading halt follows earlier allegations of sexual misconduct against casino mogul Steve Wynn. Wynn Resorts later announced it would be accepting Wynn's resignation as chief executive and chairman of the company.

Elsewhere, Japan's SoftBank Group announced on Wednesday that third-quarter operating profit declined 2.8 percent compared to one year ago, Reuters reported. The company also said in a release that it had begun preparations to list shares of its Japanese telecommunications unit, SoftBank Corporation.

Shares of Commonwealth Bank of Australia slipped 0.79 percent by the end of the day after the bank reported on Wednesday that cash profit in the six months ending Dec. 21 shrank 1.9 percent to 4.74 million Australian dollars ($3.74 million).

Also mentioned in the statement was the the A$575 million ($454 million) in expenses related to a money-laundering lawsuit incurred by the bank. Australia's other "Big Four" banks also closed in negative territory, but saw less significant losses.

Meanwhile, Premier Investments, the largest shareholder of Myer Holdings, called for a meeting to vote on removing the retailer's board, Reuters reported.

In a release, Premier Investments said it was not in the best interest of shareholders for Myer's existing board to "preside over another year of declining sales, eroding profits and further share price deterioration." Myer shares closed down 2.31 percent.

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Japan's Nikkei 225 jumped 3.25 percent following last session's 4.73 percent tumble, reports CNBC.com.

Automakers, technology names and financials were broadly following broad-based declines seen in the last session: Toyota rose 5.24 percent, Sony gained 4.31 percent and SoftBank Group soared 3.9 percent.

Among other blue chips, Fanuc Manufacturing rose 1.26 percent and Fast Retailing gained 2.82 percent.

Meanwhile, South Korea's Kospi advanced 0.17 percent after briefly slipping into negative territory earlier.

Heavyweight tech names, which were firmly in positive territory in the morning, traded mixed: Samsung Electronics slipped 0.51 percent while rival chipmaker SK Hynix jumped 3.85 percent.

The manufacturing and retail sectors were also mixed.

Over in Sydney, the S&P/ASX 200 bounced 1.22 percent as energy and materials stocks led gains. Among major miners, Rio Tinto and BHP tacked on 3.71 percent and 2.37 percent, respectively. Gold producers were among the worst-performers on the day, with the sector declining 1.98 percent in the morning.

Hong Kong's Hang Seng Index rose 2.68 percent, tracking the move higher stateside. Gains were seen across sectors on Wednesday, with tech giant Tencent jumping 4.73 percent in the morning. Heavily weighted financial names also recorded gains: HSBC rose 1.69 percent, China Construction Bank gained 3.85 percent and Bank of China soared 4.12 percent.

Property names also got some relief, with China Evergrande Group surging 8.2 percent in the morning. Country Garden was up 5.1 percent.

On the mainland, the Shanghai composite climbed 1.03 percent and the Shenzhen composite advanced 1.43 percent. Despite the broader gains, financials were a mixed picture early on: Shares of Bank of China listed in Shanghai were flat while Industrial and Commercial Bank of China was off by 0.53 percent.

On the earnings front, notable corporates due to report include Japan's SoftBank Group, Meiji Holdings and Subaru. Australian-British mining company Rio Tinto is expected to announced annual results after the Australian market closes.

US STOCKS RECOVER

U.S. stocks closed higher on Tuesday after broadly slumping in the last two sessions. There was no obvious single reason behind massive losses seen stateside on Monday, but the sell-offs were blamed on concerns about rising interest rates, program trading and volatility funds that use leverage.

On Tuesday, the Dow Jones industrial average closed higher by 567.02 points, or 2.33 percent, at 24,912.77 after falling as much as 567.01 points earlier in the session. Other indexes also recorded gains.

The rout in global stock markets also saw Asian and European shares sell off in the last session.

In currencies, the dollar index, which tracks the greenback against six major rivals, was mostly steady at 89.634. At 9:43 a.m. HK/SIN, the dollar edged down against the yen to trade at 109.44, a touch below Tuesday's close of 109.59.

The Australian dollar was a touch softer at $0.7899.

Meanwhile, U.S. West Texas Intermediate futures advanced 0.84 percent to trade at $63.92 per barrel after settling lower by more than 1 percent in the last session. Brent crude futures added 0.61 percent to trade at $67.27.

CORPORATE NEWS

Trade in the shares of Wynn Macau was halted on Wednesday, the Hong Kong stock exchange said in a notice. No additional information was provided. The trading halt follows earlier allegations of sexual misconduct against Wynn Resorts CEO Steve Wynn, who has denied those claims.

Shares of Commonwealth Bank of Australia slipped 0.34 percent after the bank reported on Wednesday that cash profit in the six months ending Dec. 21 shrank 1.9 percent to 4.74 million Australian dollars ($3.74 million). Also mentioned in the statement was the the A$575 million ($454 million) in expenses related to a money-laundering lawsuit incurred by the bank. Australia's other "Big Four" banks traded slightly higher on the day.

Meanwhile, Premier Investments, the largest shareholder of Myer Holdings, called for a meeting to vote on removing the retailer's board, Reuters reported. In a release, Premier Investments said it was not in the best interest of shareholders for Myer's existing board to "preside over another year of declining sales, eroding profits and further share price deterioration." Myer shares were down 0.77 percent.

WHAT'S ON TAP

Wednesday's economic calendar is fairly light on data (all times in HK/SIN):

12:00 p.m.: Malaysia trade data

4:00 p.m.: China foreign exchange reserves

The Reserve Bank of India is expected to make its interest rates decision later in the day.

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Tokyo, Japan (BBN) - Stock indexes in Asia closed mixed after the Nikkei 225 gave up early gains late in the session. Investors also digested a raft of China data released as mainland markets closed.

Tokyo's benchmark Nikkei 225 index declined 0.44 percent, or 104.97 points, to close at 23,763.37 as the index turned lower in the afternoon despite earlier recording a fresh 26-year high, reports CNBC.

Financials finished the session in negative territory, with Mizuho Financial Group closing down 1.83 percent.

Of note, index heavyweights SoftBank Group and Fanuc fell 1.24 percent and 1.33 percent, respectively. Fast Retailing, another heavily-weighted constituent of the index, rose 0.34 percent as other retail names saw declines.

Shares of Nintendo closed up 2.36 percent on the same day the company introduced the new Nintendo Labo. The Nintendo Labo is a do-it-yourself cardboard kit intended to be used with the Nintendo Switch console.

In Seoul, the Kospi tacked on 0.02 percent to end at 2,515.81. Samsung Electronics bounced 0.56 percent after recording losses in the last session. Rival chipmaker SK Hynix also saw gains, climbing 1.48 percent by the end of the day. Lotte Shopping fell 1.49 percent as other retail sector stocks traded mixed.

The Bank of Korea on Thursday held interest rates steady at 1.5 percent, as was mostly expected. The central bank was seen as likely to stand on the sidelines due to tighter monetary conditions driven by strength in the Korean won, Trinh Nguyen, senior economist at Natixis, said in a Wednesday note.

Over in Sydney, the S&P/ASX 200 finished lower by 0.02 percent at 6,014.6 as gains in the heavily weighted financials sector were offset by losses in energy-linked stocks and gold producers.

Hong Kong's Hang Seng Index rose 0.47 percent at 3:14 p.m. HK/SIN after recording its second straight record close in the last session. Financials were most higher, with HSBC rising 0.53 percent and China Construction Bank advancing 2.69 percent. Property developers traded in negative territory in the afternoon, with Country Garden falling 1.55 percent by 3:18 p.m. HK/SIN.

Mainland stocks closed at their highest levels in two years, according to Reuters. The Shanghai composite advanced 0.91 percent to close at 3,475.91 and the Shenzhen composite added 0.13 percent to end at 1,924.2. The blue chip CSI 300 index closed 0.58 percent higher as banking shares extended gains, with Industrial and Commercial Bank of China closing 6.25 percent higher.

China data released after the market close showed the economy grew 6.9 percent last year, above the official target of around 6.5 percent. Other numbers released in the afternoon were mixed: December retail sales rose 9.4 percent on year, missing the 10.1 percent forecast in a Reuters poll, but industrial output topped estimates.

On the corporate earnings front, Taiwan's TSMC announced that its fourth-quarter net profit came in at 99.29 billion Taiwan dollars ($3.4 billion) — 0.9 percent less than the year-ago period. The figure, however, came in slightly above the T$97.78 billion forecast in a Thomson Reuters I/B/E/S poll.

U.S. stocks closed higher, with the Dow Jones industrial average advancing 322.79 points to finish above the 26,000 level for the first time.

Other major stock indexes stateside also saw gains after the release of expectation-topping earnings from several U.S. corporates. U.S. investors also awaited developments related to a potential government shutdown should Congress fail to pass a funding bill by Friday.

DOLLAR PARES GAINS

Meanwhile, the dollar pared some gains against a basket of currencies. The dollar index stood at 90.782 at 2:52 p.m. HK/SIN, below Wednesday's close of 90.983.

Against the yen, the greenback traded at 111.20, after rising as high as 111.48 earlier in the session.

The euro edged up to trade at $1.2201 on Thursday after earlier falling as low as $1.2163. The common currency had retreated from a three-year high overnight after several European Central Bank officials on Wednesday noted their concerns over recent strength in the currency.

Meanwhile, bitcoin appeared to steady after a wild ride last session, which saw the cryptocurrency falling for a time below the $10,000 mark.

The digital currency tumbled as low as $9,199.59 on Wednesday before paring some losses trade at $11,204.30 at 2:54 p.m. HK/SIN, according to industry site CoinDesk. That's around 43 percent below its all-time high hit in December.

The move lower came after South Korea's finance minister said this week that the shutdown of cryptocurrency exchanges was an option it was still considering. A Bloomberg report earlier in the week also said China intended to clampdown on the centralized trading of cryptocurrencies.

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Tokyo, Japan (BBN) - Stock indexes in Asia on Thursday bounced back from declines in the last session, tracking substantial overnight gains on Wall Street.

Investors also awaited a raft of China data due later in the day, reports CNBC.

Tokyo's benchmark Nikkei 225 index rose 0.52 percent, with energy-related stocks, automakers and banking names trading mixed. Of note, index heavyweight SoftBank Group declined 0.77 percent.

Fast Retailing, another heavily-weighted constituent of the index, rose 1.13 percent as other retail names saw moderate declines.

The Nikkei 225 touched a 26-year high earlier this week and has risen more than 3 percent so far this year.

In Seoul, the Kospi tacked on 0.35 percent as Samsung Electronics bounced 1.49 percent, reversing losses seen in the last session.

Rival chipmaker SK Hynix also saw gains, climbing 1.75 percent in the afternoon. Lotte Shopping fell 1.06 percent as other retail sector stocks traded mixed.

The Bank of Korea on Thursday held interest rates steady at 1.5 percent, as was mostly expected. The central bank was seen as likely to stand on the sidelines due to tighter monetary conditions driven by strength in the Korean won, Trinh Nguyen, senior economist at Natixis, said in a Wednesday note.

Over in Sydney, the S&P/ASX 200 traded higher by 0.1 percent, with gains driven by the heavily-weighted financials sector. Australia's "Big Four" banks all traded higher on the day: Westpac climbed 1.37 percent and ANZ rose 0.78 percent.

Energy-related plays and junior miners were mostly in negative territory.

The positive sentiment carried over to greater China markets for the most part. Hong Kong's Hang Seng Index rose 0.12 percent after recording its second straight record close in the last session. Financials were most higher, with HSBC rising 0.53 percent and China Construction Bank advancing 1.71 percent.

Mainland markets were narrowly mixed. The Shanghai composite edged up 0.12 percent and the Shenzhen composite lost 0.11 percent as banks extended gains seen in the last session.

On the corporate earnings front, Taiwan's TSMC is slated to announce results on Thursday.

U.S. stocks closed higher, with the Dow Jones industrial average advancing 322.79 points to finish above the 26,000 level for the first time.

Other major stock indexes stateside also saw gains after the release of expectation-topping earnings from several U.S. corporates. U.S. investors also awaited developments related to a potential government shutdown should Congress fail to pass a funding bill by Friday.

BITCOIN PARES LOSSES

Bitcoin appeared to steady after a wild ride last session, which saw the cryptocurrency falling for a time below the $10,000 mark.

The digital currency tumbled as low as $9,199.59 on Wednesday before paring some losses trade at $11,138.15 at 12:37 p.m. HK/SIN, according to industry site CoinDesk. That's around 43 percent below its all-time high hit in December.

The move lower came after South Korea's finance minister said this week that the shutdown of cryptocurrency exchanges was an option it was still considering. A Bloomberg report earlier in the week also said China intended to clampdown on the centralized trading of cryptocurrencies.

Meanwhile, the dollar pared some gains against a basket of currencies. The dollar index stood at 90.875 at 12:39 p.m. HK/SIN, a touch below Wednesday's close of 90.983.

The euro was steady at $1.2189 on Thursday, above an overnight low of $1.2163. The common currency had retreated from a three-year high overnight after several European Central Bank officials on Wednesday noted their concerns over recent strength in the currency.

Against the yen, the greenback traded at 111.40.

WHAT'S ON TAP

Here's the economic calendar for Thursday (all times in HK/SIN):

3:00 p.m.: China fourth-quarter GDP, industrial production and retail sales

5:00 p.m.: Bank Indonesia rates decision

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