Hong Kong: Asian shares were mixed Thursday after the Dow on Wall Street ticked up another record high in response to strong earnings and a positive outlook on the US economy by the Federal Reserve.
An early rally in response to the US gains fizzled towards the end of the day as profit-takers moved in.
Tokyo ended flat, edging down 9.04 points to finish at 15,370.26 as the yen strengthened against the dollar, while Sydney was marginally higher, adding 3.54 points to 5,522.4 and Seoul gained 0.37 percent, or 7.42 points, to 2,020.90.
Shanghai lost 0.57 percent, or 11.69 points, to 2,055.59 while in the afternoon Hong Kong gave up 0.16 percent.
The mood remained largely buoyant after China said on Wednesday that the world`s number two economy and key driver of global growth expanded more than expected in the second quarter of the year.
US shares resumed their uptrend on Wednesday as traders welcomed a report from the Fed that said all 12 economic regions of the country continued to expand in the six weeks to July 7.
Pointing to generally higher consumer spending, with strong auto sales outperforming other retail segments, the bank`s Beige Book report is the latest to indicate the world`s top economy is getting back on track.
It also comes weeks after the Labor Department said far more jobs were created in June than forecast while unemployment slipped.
On Wall Street the Dow jumped 0.45 percent to a new record, while the S&P 500 gained 0.42 percent and the Nasdaq added 0.22 percent.
The US market was also cheering better-than-expected earnings from chip giant Intel and a "landmark" IBM partnership with Apple.
On currency markets the dollar dipped to 101.49 yen in Asian trade from 101.69 yen in New York Wednesday.
The greenback had enjoyed a rally on Wednesday after Fed chief Janet Yellen told lawmakers on Capitol Hill that interest rates could rise "sooner and be more rapid than currently envisioned" if the jobs market strengthens further.
The euro bought USD 1.3525 and 137.27 yen in Tokyo, against USD 1.3524 and 137.55 yen in US trade.
Oil prices extended gains after a bullish US supply report indicated robust demand in the world`s top crude consumer.
US benchmark West Texas Intermediate for August delivery rose 24 cents to USD 101.44 while Brent crude for September gained two cents to USD 107.19 in afternoon trade.
Gold was at USD 1,304.69 at 0700 GMT compared with USD 1,298.75 late Wednesday.
In other markets:
-- Taipei fell 0.81 percent, or 76.49 points, to 9,408.24.
---Hon Hai shed 0.93 percent to Tw$106.5 while smartphone maker HTC was 0.73 percent lower at Tw$136.0.
-- Wellington was almost unchanged, dipping 1.86 points to 5,112.39.
--Contact Energy eased 0.19 percent to NZ$5.34 and Freightways lost 0.59 percent to end at NZ$5.02.
