Asia Markets

Asia shares mixed after upbeat Japan GDP; Sony tanks 6%

Asian equities were mixed on Thursday following overnight losses on Wall Street as robust growth figures from the world's third-largest economy failed to lift sentiment.

Japan's first-quarter gross domestic product grew at an annualized pace of 5.9 percent, its fastest pace since the July-September quarter in 2011.

"5.9 percent means that people have not been buying only toilet paper, they have been buying all sorts of things and preparing a big consumption binge. So far, much of Abenomics has depended on money printing and a weaker yen but what we are seeing now is strong consumer demand," said Martin Schulz, senior economist at Fujitsu Research Institute.

Read MoreWill doom followJapan's first quarter boom?

U.S. stocks declined on Wednesday, one day after the Dow Jones Industrial Average and the hit record highs, as the 10-year Treasury yield plunged to a six-month low. The move was viewed by some as signaling an economic slowdown and a reason to sell riskier assets.

Rising tensions between China and Vietnam also weighed on sentiment. Vietnamese mobs raided Chinese and Taiwanese-owned factories in southern industrial zones on Wednesday, looting products and starting fires.

Why don't markets like Japan's strong GDP?
Why don't markets like Japan's strong GDP?

Nikkei drops 0.7%

Japanese shares declined for a second session as dollar-yen fell below the 102 handle to hit a one-week low. Focus now turns to Bank of Japan chief Haruhiko Kuroda's speech later in the day, where many analysts think he will reiterate the central bank's readiness to step in if needed.

Financials were in focus with Sumitomo Mitsui Financial tanking 3 percent after flagging a 20 percent profit decline and brokerage Credit Saison closing down nearly 13 percent on weak earnings.

Sony skidded 6 percent, tracking losses in its American depository receipt in New York, after saying late on Wednesday that it expects to lose $500 million this coming year due to struggling TV and PC operations.

Read MoreSony's big problem? It's just not cool

China shares mixed

The mainland's benchmark Shanghai Composite lost more than 1 percent to a one-week low, down for a third straight session, thanks to declines in property shares.

Real-estate developers Poly Real Estate, Shanghai Shimao and China Merchants Property declined 2 percent each on continued worries over a downturn in the sector. Earlier this week, the central bank requested banks to lower mortgage rates and process housing loans faster to combat the market slowdown.

Read MoreIs China loosening its grip on the property market?

Meanwhile, Hong Kong stocks added 0.7 percent, extending their five-day winning streak. Tencent rallied 5.7 percent after reporting a 60 percent surge in profits to a record quarterly result.

Who is winning China's mobile war?
Who is winning China's mobile war?

ASX gains 0.2%

Australia's benchmark reversed losses in he afternoon session to end at its highest level in two weeks.

The country's largest listed agribusiness Graincorp rose 0.7 percent after posting a 43 percent fall in first-half net profit. Shopping mall operator Westfield added 0.3 percent after reporting a 2.8 percent rise in first-quarter retail sales

Treasury Wine Estates rose nearly 3 percent after confirming that it has not been approached by Constellation Brands regarding a sale of its U.S. business.

Sensex up 0.4%

Indian shares finished higher by 0.38 percent ahead of the general election results. April's wholesale price index saw an increase of 5.2 percent from a year earlier, slower than a 5.7 percent increase in March.

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Kospi flat

South Korean shares hovered along the flatline in quiet trade, retreating after ending at their highest levels so far this year in the previous session.

Profit-taking hit some blue-chop stocks that have rallied in recent session. Samsung Electronics dipped 0.3 percent while steelmaker Posco fell more than 1 percent.