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Hong Kong -Asian markets were mixed Thursday following losses on Wall Street, while Japanese traders were disappointed by the lack of progress on a stalled Pacific trade pact as US President Barack Obama visits Japan.
The euro edged up, adding to gains on Wednesday after a survey of business activity hit its highest level in almost three years in April.
Tokyo, which rose more than 1% on Wednesday, dropped 0.97% to 14 404.99 and Seoul lost 0.10% to end at 1 998.34. Sydney closed slightly higher, adding 0.24% to 5 531.0.
Shanghai fell 0.50% to 2 057.03 and Hong Kong rose 0.24% to 22 562.80.
US shares dipped on Wednesday following a report showing sales of new homes unexpectedly plunged 14.5% in March from February, reinforcing a picture of a weakening housing market.
Adding to the downward pressure was a touch of profit-taking after recent gains as well as some poor earnings releases, including from telecom giant AT&T and biotech firm Amgen.
The Dow edged down 0.08% while the S&P 500 slipped 0.22%, breaking a six-day winning streak. The Nasdaq Composite lost 0.83%.
On currency markets the euro fetched $1.3835 and ¥141.71 against $1.3816 and ¥141.65.
The single currency rallied on Wednesday after Markit Economics said its Eurozone Composite Purchasing Managers' Index for April - a leading indicator of manufacturing and services activity - jumped to 54 in April from 53.1 in March, its highest reading since May 2011.
Anything above 50 points to growth and a reading below that indicates contraction.
The dollar was at ¥102.42 compared with ¥102.50 late in New York.
Obama is making the first state visit to Japan by a US president in almost two decades. The trip comes at a time of strained tensions between Tokyo and Beijing over a territorial dispute and Japan's imperialist past.
Investors had also been keen to see some movement on talks between the US and Japan on the Trans-Pacific Partnership, which has run into difficulties over the countries' stand on auto and agricultural market access.
However, days of intense talks in the background could not clear the logjam, with powerful vested interests on both sides tying hands.
On Thursday Obama said the two sides had yet to find common ground, adding: "Now is the time for bold steps."
Oil prices were up. New York's West Texas Intermediate for June delivery, was up 26 cents at $101.70 a barrel in afternoon trade, and Brent North Sea crude for June rose 18c to $109.29.
Gold fetched $1 271.96 an ounce at 13:20 compared with $1 286.71 on Wednesday.
In other markets:
- Bangkok lost 0.05%, or 0.72 points, to 1 422.67.
Coal producer Banpu added 2.63% to 29.25 baht, while Bangkok Bank fell 3.32% to 189.00 baht.
- Jakarta closed down 0.04%, or 2.07 points, to 4891.08.
Palm oil producer Astra Agro Lestari fell 0.34%+
to 29 000 rupiah, while Indah Kiat Pulp & Paper rose 1.51% to 1 345 rupiah.
- Kuala Lumpur dropped 0.11%, or 2.07 points, to 1 865.28.
Public Bank fell 0.1% to 20.26 ringgit, while IOI Corp rose 0.2% to 4.85 ringgit.
- Singapore climbed 0.80%, or 25.92 points, to 3 283.93.
Agribusiness firm Wilmar International gained 0.57% to Sg$3.51 while Oversea-Chinese Banking Corporation rose 0.21% to Sg$9.64.
- Taipei fell 0.13%, or 11.47 points, to 8 945.45.
Smartphone maker HTC rose 0.31% to Tw$159.5 while EVA Air eased 0.64% to Tw$15.6.
- Wellington rose 0.21%, or 11.04 points, to 5 153.96.
TradeMe was up 0.51% at NZ$3.91 and Air New Zealand added 0.72% to NZ$2.095.
- Manila closed 0.56% lower, giving up 38.19 points to 6 731.33.
SM Investments dropped 0.67% to 737.50 pesos while Metropolitan Bank and Trust fell 0.71% to 84.35 pesos.
- Mumbai was closed on account of voting for the general elections.
