Asian stocks turned in a mixed performance on Thursday amid cautious optimism around the economic reopening in the developed world. Meanwhile, comments from U.S. Treasury Secretary Janet Yellen and several Fed officials helped ease investor concerns about rising inflation.

Chinese shares ended slightly lower as markets resumed trading for the first time since last week. The benchmark Shanghai Composite index slid 5.57 points, or 0.16 percent, to 3,441.28, while Hong Kong's Hang Seng index rose 219.48 points, or 0.77 percent, to 28,637.46.

Japanese shares posted strong gains to mark their biggest percentage gain in two weeks as traders returned to their desks after a five-day holiday. Tokyo Governor Yuriko Koike said on Thursday an extended state of emergency was needed to contain infections that are straining the capital's medical system.

The Nikkei average climbed 518.74 points, or 1.80 percent, to 29,331.37, led by cyclical stocks. The broader Topix index settled 1.54 percent higher at 1,927.40.

Steel makers JFE Holdings and Nippon Steel surged around 8 percent while tech shares tracked the Nasdaq Composite lower. Advantest and Screen Holdings both fell around 1.5 percent. Nissan Motor jumped 2.9 percent after announcing the sale of its entire stake in German carmaker Daimler.

Minutes from the Bank of Japan's meeting on March 18 and 19 revealed earlier in the day that policymakers agreed the central bank's priority should be to keep the yield curve stably low while the economy remains under the strain caused by the COVID-19 pandemic.

Australian markets closed lower and the Aussie dollar took a beating after China said it would end economic dialogue with Canberra.

The benchmark S&P/ASX 200 index dropped 34.10 points, or 0.48 percent, to 7,061.70, while the broader All Ordinaries index ended down 38.20 points, or 0.52 percent, at 7,306.

BHP and Rio Tinto rose 1-2 percent after copper hit a fresh 10-year high overnight on signs of recovery in major economies.

Tech stocks fell, with buy-now-pay-later giant Afterpay plunging as much as 7 percent to extend losses for a fifth consecutive session.

Energy stocks turned in a mixed performance. National Australia Bank shares tumbled 3 percent despite the lender reporting a 48.1 percent surge in cash earnings for the first half.

Shares in Nearmap plummeted more than 23 percent after the aerial mapping firm said it will vigorously defend itself against legal action by U.S. rival Eagleview.

Seoul stocks advanced as hopes for a global economic rebound offset inflation worries. The benchmark Kospi rallied 31.37 points, or 1 percent, to finish at 3,178.74.

(Source:RTT News)