Kospi falls 0.5%
South Korean shares tracked losses in their regional counterparts to finish lower on Thursday. Samsung Electronics, the heaviest weighted stock on the Kospi index, shed 1.3 percent amid choppy trade after announcing a 36 percent on-year fall in fourth quarter profit, confirming its first annual earnings decline in three years.
The country's largest web portal operator Naver also slid 5.3 percent after its profits for the October-December period came in below forecasts.
LG electronics, due to hand in earnings results later in the day, sagged nearly 2 percent.
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ASX gains 0.3%
Australia's key S&P ASX 200 index erased losses to edge up to a four-and-a-half-month high, posting a six-session winning streak, as a rebound in the banking sector offset losses in the beaten-down energy space.
As Westpac trimmed losses to close down 0.1 percent, National Australia Bank, Commonwealth Bank of Australia and ANZ Banking rebounded to make gains between 0.9 and 1.2 percent, respectively.
Oil and gas producers Santos and Liquefied Natural Gas plunged more than 2 percent each, while Oil Search finished down 1.2 percent, as oil prices plumbed fresh six-year lows overnight.
Fortescue Metals climbed nearly 10 percent after announcing that cost cutting measures and a weak Australian dollar have helped it to combat ongoing turmoil in the price of iron ore.
New Zealand's NZX 50 index edged down 0.6 percent, retreating from record highs clinched earlier in the session, while the kiwi dollar erased gains to trade at $0.7299, near three-and-a-half-year lows. Earlier in the session, the Reserve Bank of New Zealand held its benchmark rate steady, but turned dovish as it said its next move could be either up or down after an extended period on hold.
PSE Composite flat
Philippines' benchmark index was slipped 0.5 percent in the afternoon session, backing further away from record highs after leaping 0.8 percent at the open following an upside surprise in the country's fourth quarter gross domestic product (GDP).
The Philippine economy grew an annual 6.9 percent in the October-December period, faster than market expectations of 6.0 percent, government data showed on Thursday. This brings full-year 2014 growth to 6.1 percent.