Commonwealth Bank of Australia (CBA) fell 1.2 percent despite reporting an annual 8 percent rise in full-year net profit while its total dividend increased 9 percent from a year earlier to a final dividend of $2 per share.
"Analysts and commentators alike had been calling for a final dividend of $2.12; considering CBA is priced to perfection, this slight disappointment considering the earnings figures may see a 'sell the fact' result," said Evan Lucas, market strategist at IG in a note.
(Read more: Is the rally in global miners too good to be true?)
Metals miner Oz Minerals eased 4 percent after posting a $244 million loss for the first-half while consulting services firm WorleyParsons rose 3.4 percent after reporting better-than-expected revenue.
The world's second largest blood products maker, CSL, tumbled 2.7 percent despite posting a 19 percent rise in full-year net profit.
Kospi 0.6% higher
South Korea's benchmark index rose above 1,913 points to hit a new one-and-a-half week high for a second straight session.
Apple chip suppliers extended the previous day's rally after Apple shares spiked nearly 5 percent overnight on news that billionaire investor Carl Icahn announced that he has taken a "large position" in the iPhone maker.
LG Display and Samsung SDI rose 1 percent each while SK Hynix added 3 percent.
Automakers are in focus on news that Hyundai Motor workers could strike next week on the back of failed wage discussions. Still, shares rallied 2.6 percent.
— By CNBC.com's Nyshka Chandran. Follow her on Twitter