Hong Kong - Asian stocks were mostly weaker in early trade on Friday, as investors awaited the release of Chinese economic statistics and global sentiment was dampened by the upcoming Scottish independence vote and weak inflation data.
The yen was trading around six-year lows against the dollar after reaching ¥107.11 in New York on Thursday, the first time the US currency had risen past ¥107.00 since September 2008, during the global financial crisis.
Tokyo was up 0.39% after reversing earlier losses and Seoul rose 2.0%, but Hong Kong shares were flat, Shanghai slipped 0.19% and Sydney was 0.4% weaker.
China will on Saturday announce figures including retail sales and fixed asset investment for August. Data released on Thursday showed inflation easing to a four-month low, fuelling the case for a further easing in monetary policy.
"The markets are behaving in a pretty orderly manner," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
"The Nikkei might test the 16 000 mark intraday, but it would take another surge in the dollar to do it," he said, as Tokyo's headline share index reached 15 970.50 around noon.
Asian markets took their lead from US stocks which finished little changed on Thursday as concerns about the September 18 referendum on Scottish independence and weak global inflation data weighed on sentiment.
The prospect of a Scottish vote in favour of secession has sent jitters through European markets. Two banks, RBS and Lloyd's, warned they may relocate to London if Scotland separates from the United Kingdom.
The global growth outlook was seen as dimming in view of the Chinese inflation data as well as figures showing German inflation stood at 0.8% in August, its lowest level since February 2010.
China's inflation outcome, which came in well below the government's annual target, came at a time of concern over the world's second-largest economy as stimulus measures enacted earlier this year wear off.
The dollar was at ¥107.07 in morning Asian trade. The euro bought $1.2925 and ¥138.36 against $1.2919 and ¥138.39 in US trade.
On oil markets, US benchmark West Texas Intermediate for October delivery rose 15 cents to $92.98 while Brent crude for October gained 2c to $98.10.
Gold retreated to $1 234.31 an ounce, against $1 248.71 late on Thursday.