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Hong Kong - Asian markets were mixed on Thursday, with an upbeat Federal Reserve report on the US economy and positive European growth data offset by profit-taking and lingering concerns over Syria.
While a positive outlook has lifted sentiment, traders remain on edge about the Fed's plans for its stimulus programme, with concerns it will soon start a wind-down acting as a drag on buying.
Tokyo was 0.10% higher, but with early gains pared by a strengthening yen, while Hong Kong added 0.95% and Seoul climbed 0.63%. But Shanghai eased 0.11% and Sydney slipped 0.46%.
The Fed's Beige Book report into the state of the world's top economy showed consumer spending and manufacturing has risen in most of the 12 regions in the United States while job creation was steady or improving.
"The US Fed's Beige Book was reassuring for investors who continue to harbour doubts about the pace and quality of the economic recovery," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
Wednesday's study came out a day after data showed US manufacturing activity had picked up pace in August.
On Wall Street, the Dow rose 0.65%, the S&P 500 added 0.81% and the Nasdaq climbed 1.01%. US shares were given an extra boost after a strong set of auto sales for August.
However, economists fear for emerging markets as the results will provide the Fed with more evidence the US economy can stand on its own and does not need the vast stimulus that has been in place since September last year.
Global markets rallied at the start of the week after a batch of results around the world, including manufacturing data from China and Europe, which showed activity sharply higher.
And on Wednesday figures confirmed the eurozone had emerged from an 18-month recession in the second quarter, providing fresh evidence it is slowly putting its long-running debt crisis behind it.
The Eurostat statistics agency said in its second estimate that the 17-nation bloc grew 0.3% in the three months to June, with a contraction of 0.2% in the first quarter.
In currency trade, the dollar eased back after approaching ¥100 on Wednesday, a level not seen since July.
Early Asian trade saw the greenback buy ¥99.66 compared with ¥99.74 in New York Wednesday, while the euro bought $1.3198 and ¥131.53 compared with $1.3204 and ¥131.70.
Trade remains edgy with investors keeping an eye on the crisis over Syria as US President Barack Obama tries to win backing from Congress for a military strike on the Assad regime after its alleged use of chemical weapons.
Obama cleared the first hurdle on Wednesday as a key Senate panel gave its backing for the White House's plan for a limited response. The president hopes to get approval from lawmakers in a vote next week.
On oil markets New York's main contract, West Texas Intermediate for delivery in October, was up 29 cents at $107.52 a barrel, while Brent North Sea crude for October gained 13c to $115.04.
Gold cost $1 392.40 an ounce at 02:10 GMT, up from $1 402.57 late on Wednesday.
