Asian stocks ended mixed on Thursday, as investors weighed some better-than-expected readings on the U.S. economy against hawkish Fed comments on inflation and news that the first case of the Omicron variant had been found in California.

Chinese shares ended on a flat note after reports that the country is planning to ban companies from going public on foreign stock markets through variable interest entities. The China Securities Regulatory Commission has denied the report.

Hong Kong's Hang Seng index rose 130.01 points, or 0.55 percent, to 23,788.93 amid signs that Beijing is marginally easing liquidity strains on the cash-strapped property sector.

Japanese stocks ended notably lower as investors fretted over the effects of the new Omicron coronavirus variant on the global economic recovery.

The Nikkei average dropped 182.25 points, or 0.65 percent, to 27,753.37, while the broader Topix index closed 0.54 percent lower at 1,926.37, dragged down by mining, air transportation, energy, retail and precision instrument stocks.

Australian shares hit two-month lows, reflecting jitters over new findings about the Omicron variant of the coronavirus.

The benchmark S&P/ASX 200 index slid 10.70 points, or 0.15 percent, to 7,225.20, marking its weakest level since Oct 6 as state governments tightened domestic border controls. The broader All Ordinaries index ended down 21.70 points, or 0.29 percent, at 7,536.10.

Technology stocks succumbed to heavy selling pressure, with heavyweight Afterpay losing as much as 6.1 percent to hit a four-month low after delaying a shareholder vote on its US$29 billion deal with Twitter co-founder Jack Dorsey led Square.

Utilities and industrial stocks advanced, with Transurban Group and AGL Energy climbing 2 percent and 4 percent, respectively. Australian Pharmaceutical Industries shares jumped 6 percent after Woolworths Group joined the tussle for the pharmacy chain.

Seoul stocks rallied for the second straight session on the back of strong foreign buying in semiconductor-related stocks. The Kospi average jumped 45.55 points, or 1.57 percent, to close at 2,945.27.

Market bellwether Samsung Electronics advanced 1.9 percent and No. 2 chipmaker SK Hynix added 3 percent.

South Korea's economy grew at the same pace as earlier forecast in the third quarter of the year despite better-than-expected private consumption and robust exports, central bank data showed.

Another report showed inflation in the country accelerated to the fastest pace since 2011.

New Zealand shares ended lower as investors assessed how much damage the newest coronavirus variant will do to the economy. The benchmark NX-50 index slipped 54.05 points, or 0.42 percent, to finish at 12,670.24.Travel-related stocks fell, with Air New Zealand ending 1.3 percent lower.

(Source:RTT News)