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Hong Kong - Asia's markets were mixed on Thursday, with investors unable to build on the previous day's advances after the S&P on Wall Street notched up another record.
With few catalysts to drive trade the dollar retreated from seven-month highs against the yen, while the euro clawed back some losses after Germany dampened speculation that the European Central Bank (ECB) would unveil new easing policies.
Australian flag-carrier Qantas was the standout performer, surging almost 7% on hopes for the next 12 months after it announced record annual losses of US$2.65bn.
Tokyo lost 0.52% by the break as exporters were hurt by a stronger yen, while Sydney eased 0.36%. Shanghai added 0.36%, Seoul gained 0.44% and Hong Kong added 0.47%.
Global markets are on a general uptrend as the US economy shows regular signs of getting back on track, in turn sending Wall Street to record highs.
With focus turning to the release of revised US economic growth data for April-June, trade was muted in New York on Wednesday, but still positive.
The S&P, which ended above 2 000 for the first time on Tuesday, ticked up 0.10 points to another record, while the Dow edged 0.09% higher. The Nasdaq eased a fraction but still sits at a 14-year high.
On currency markets the dollar fetched ¥103.74 in early Asian trade, compared with ¥103.86 in New York and well down from the ¥104.20 levels seen earlier in the week.
The euro bought $1.3188 and ¥136.98, against $1.3195 and ¥137.05 in New York.
The single currency has picked up slightly after Germany's finance minister Wolfgang Schaeuble downplayed the prospect of the ECB announcing fresh measures to protect the eurozone economy.
The euro had taken a hit at the start of the week, approaching a one-year low against the dollar, after ECB head Mario Draghi hinted the bank could unveil new steps to fend off deflation.
Draghi said last week the bank "will use all available instruments needed to ensure price stability over the medium term".
But Schaeuble said markets "over-interpreted" the remarks.
Shares in Qantas jumped 6.76% despite the airline announcing a huge loss in the year to June blamed on a writedown of its ageing international fleet.
However, the firm's chief executive Alan Joyce he expected "a rapid improvement in the group's financial performance and a return to underlying profit before tax in the first half" of the next fiscal year.
On oil markets US benchmark West Texas Intermediate for October delivery eased 10 cents to $93.78 while Brent crude for October slipped 15c to $102.57.
Gold traded at $1 286.26 an ounce at 04:50, from $1 284.54 late on Wednesday.
