The trading lacked vigor, as a wait-and-see mood grew ahead of a vote in the U.S. House of Representatives about a replacement plan for Obamacare, the health care act ushered in under previous administration of President Barack Obama. Investors were worried about a possible delay in the U.S. administration's implementation of fiscal and economic stimulus measures pledged by Trump if the vote is put off or the plan is rejected
Market participants' wait-and-see mood was intensifying as they are also awaiting U.S. Federal Reserve chief Janet Yellen's speech later in the day for hints about how many more times the central bank will raise interest rates within the year.
Among Asian bourses
Australia Shares up on materials
Australian equity market finished session higher today, snapping three straight days of losses, buoyed by the materials sector and gains from miner BHP Billiton. The market also found support from new bilateral agreements on beef exports, energy and security, which were expected to be signed between Australia and China during a four-day visit by Chinese Premier Li Keqiang. At the close, the benchmark S&P/ASX 200 index closed up 0.4%, or 23.49 points, at 5,708. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 561 to 460 and 343 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 1.04% to 12.257.
BHP Billiton ended more than 1% higher, driven by gains in oil and copper prices. Oil prices recovered from losses chalked up the session before, though the market remained under pressure as bloated US crude inventories dampen OPEC-led efforts to curb global production. Copper also recorded some gains, holding above two-week lows hit the previous session, due to a revival of investor sentiment.
The banks were mostly above water with the Commonwealth up 0.2% to $82.95 and Westpac down 0.15% to $33.44.
Brickworks posted a half year after tax profit of $104.1 million, up 35.4%. Its shares were steady at $13.77, just 0.07% higher.
Medical cannabis company Zelda Therapeutics shares added 3.6% to $0.084 after announcing two new clinical trials in Chile. Sigma Pharmaceuticals was up 2.5% to $1.23 after posting a 5% rise in full year profit to $53.2 million.
Nikkei recovers 0.23%
The Japan share market closed higher, helped by bottom fishing in domestic-demand stocks, a day after the benchmark index posted its biggest drop in four months. Market upside was, however, limited due to doubts about the ability of the Republican leadership to push through the bill to replace the signature health care program of the previous administration of President Barack Obama. The 225-issue Nikkei average gained 43.93 points, or 0.23%, to close at 19,085.31. On Wednesday, the Nikkei average gave up 414.50 points, suffering the biggest closing loss since Donald Trump's victory in the U.S. presidential election in November last year. The Topix index of all first-section issues ended up 0.21, or 0.01%, at 1,530.41.
Domestic-demand stocks, such as those in the food and utility sectors, supported the market. Beverage maker Asahi Group Holdings Ltd. rose 2.6% to Y4,288 and Kansai Electric Power Co. gained 1.3% to Y1,254.0.
Industrial robot manufacturer Fanuc and clothing store chain operator Fast Retailing, both heavily weighted components of the Nikkei average, attracted buying. Automakers Fuji Heavy, Honda and Mazda wiped out earlier losses to end higher thanks to a pause in the yen's appreciation. Also on the plus side were insurer Dai-ichi Life, retail giant Seven & I Holdings, and oil companies JX Holdings and Inpex.
By contrast, game maker Nintendo met with profit-taking after a rally. Mega-bank groups Mitsubishi UFJ and Sumitomo Mitsui, mobile phone carriers SoftBank and KDDI, and railway operator JR East were also downbeat.
Several electronics and auto stocks fell. Sharp Corp. fell 1.4% to 411 yen. Mitsubishi Motors Corp. lost 1.2% to Y677.
China Stocks inch up
The Mainland China equity market ended slight higher, helped by bargain hunting after index compiler MSCI said it was seeking feedback from market participants on whether to add Chinese A-shares to its China Index and emerging markets index. But, market upside capped due to slump in Shanghai B shares amid worries over tight liquidity and stepped-up regulation. Sector performance was mixed, with energy shares lagged, while banking and property stocks firmed. The benchmark Shanghai Composite Index climbed 0.10%, or 3.33 points, to 3,248.55 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, was marginally higher, adding 0.71 point to 2,038.60.
Investors found some solace after index compiler MSCI said it was seeking feedback from market participants on whether to add Chinese A-shares to its China Index and emerging markets index.
However, market upside capped due to investors' concerns over tight liquidity in the country's interbank market and stepped-up regulation on domestic financial institutions. Cash conditions tightened on worries the central bank's quarterly risk assessment at the end of this month would restrict lending in the interbank market. In addition, the assessment will include off-balance sheet wealth management products (WMPs) for the first time.
Insurance firms advanced on news that the premium income received by insurers jumped more than 30% in the first two months, compared with a year earlier. China Life Insurance Co and Ping An Insurance Group Co of China gained 1.4% and 1.9%, respectively.
But liquor makers turned bearish, bucking a broad trend, as an index tracking the sector retreated after it climbed to an all-time high in the previous session.
Hong Kong Stocks close virtually flat
The Hong Kong stock market closed session edge higher, as strength in Chinese real estate developers was offset by weakness in some blue chips as their earnings reports disappointed investors. The benchmark Hang Seng index ended roughly flat at 24,327.70 points, while the Hong Kong China Enterprises Index gained 0.3% to 10,487.45. Turnover decreased to HK$91.8 billion from HK$103.5 billion on Wednesday.
Industry bellwether Tencent Holdings fell 1% to HK$223 after the tech giant reported quarterly profits of 10.53 billion yuan ($1.53 billion) on Wednesday.
Heavyweight China Mobile slid 3% to HK$87.25, as hopes of higher dividend vanished after the largest telecommunications network operator in China reported a mere 0.2% rise in profit to RMB108.74 billion for last year.
Shares of AAC Technologies Holding Inc jumped 10% to HK$95.25 on news that the miniature technology components maker posted a 30% increase in net profit for 2016, compared with the previous year, and triggered upgrades from research houses.
CKH Holdings (00001) gained 1% to HK$97.8 after the conglomerate reported 2016 earnings growth of 6% to HK$33 billion, which came in better than expectations.
WH Group soared 10% to HK$6.66 after it reported 2016 earnings growth of 32%. The company said China and Hong Kong banned imports of frozen and chilled meat and poultry meat from Brazil will bring about new opportunities for the company.
Indian Market settles with modest gains
Key benchmark indices logged modest gains in a steady session of trade as it tracked a recovery in global markets. Energy shares led the gains while financials and auto shares also staged a smart comeback. The barometer index, the S&P BSE Sensex, rose 164.48 points or 0.56% to settle at 29,332.16. The Nifty 50 index rose 55.85 points or 0.62% to settle at 9,086.30.
On the sectoral front, the BSE Oil & Gas index gained the most at 1.21%, followed by Power (up 1.20%), Metals (up 1.08%), Capital Goods (up 1.04%) and Auto (up 0.84%) indices. BSE FMCG index (down 0.10%) was the only sectoral loser on Thursday.
Tata Motors was the biggest gainer among Sensex scrips, rising by 2.59%. GAIL, NTPC and Wipro too rose up to 2.39%. Reliance Industries and Infosys also advanced over 1% to help the index close with strong gains.
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