Asia Markets

Asia stocks mixed on Ukraine risks; Nikkei falls over 1% in August

Asian equity markets ended mixed on the final trading day of the week amid concerns of a worsening situation in Ukraine.

On Thursday, Ukraine accused Russia of invading the country following a fresh offensive into the coastal town of Novoazovsk. The accusation came after NATO warned that , releasing photos purporting to show troop movement in the region.

That saw U.S. stocks decline overnight with the halting a three-day winning streak to end below 2,000. But strong economic data helped stem the losses; second-quarter growth was revised higher to show a 4.2 percent gain while pending home sales hit an eleven-month high.

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For the month of August, Japan's benchmark index was the worst performer with losses exceeding 1 percent while the Shanghai Composite index saw the biggest gains, up 1 percent.

Nikkei down 0.2%

Japan's benchmark Nikkei index fell for a second day, hitting a near two-week low, as investors digested a mixed bag of data. July's core consumer price index rose an annual 3.3 percent, in line with forecasts, while household spending came in much worse than expected.

Read MoreJapan economy still spotty, data deluge shows

Japan industrial output misses estimates
Japan industrial output misses estimates

Pioneer eased 1.5 percent while Sharp gained 1 percent after both firms said they agreed to dissolve their alliance in the optical disk business.

Retailers lost ground despite July retail sales beating expectations. Seven & I eased 1 percent while Daiei dropped 0.8 percent.

Shanghai up 1%

China's benchmark index enjoyed a solid rebound after closing at a three-week low in the previous session.

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In earnings news, Industrial and Commercial Bank of China gained 0.9 percent despite reporting its slowest first-half net-profit growth since 2009 late on Thursday while PetroChina lost 0.5 percent after posting a 4 percent rise in first-half net profit from a year ago.

How will the global economy be like 25 years on?
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ASX dips 0.1%

Australia's benchmark index fell for a second day, hitting a new one-week low in extremely quiet trade.

Virgin Australia ended 0.6 percent higher after posting weaker-than-expected annual earnings and announcing that it will sell a 35 percent stake in its frequent flyer program to private equity firm Affinity Equity Partners.

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Kospi sheds 0.3%

South Korea's benchmark Kospi fell despite data showing that industrial output rose for a second month in July.

Construction firm Dongbu slumped 15 percent after local media reported that it was facing a liquidity crunch.