Most major indexes in Asia closed lower on Thursday after the release of softer-than-expected China data. Markets also digested the rise in U.S. Treasury yields overnight following tax reform headlines out of Washington.
Japan's Nikkei 225 closed lower after three straight days of gains. The benchmark index finished the session lower by 0.29 percent, or 58.38 points, at 19,807.44.
Across the Korean Strait, the Kospi rallied late in the session, climbing 0.74 percent to close at 2,377.66. Gains in blue chips helped to buoy the broader market: Samsung Electronics finished 1.4 percent higher and Hyundai Motor closed 2.24 percent higher.
Down Under, the S&P/ASX 200 slipped 0.1 percent to close at 5,738.7, with the materials sub-index falling 0.88 percent and leading losses.
The Hang Seng Index declined 0.48 percent by 3:00 p.m. HK/SIN. Mainland markets finished lower: The Shanghai Composite edged down 0.38 percent to close at 3,371.4256 while the Shenzhen Composite was off 0.072 percent at 1,993.5315.
A barrage of Chinese data released on Thursday came in weaker than expected. August industrial production rose 6 percent from one year ago, below the 6.6 percent forecast in a Reuters poll. Fixed asset investment, meanwhile, increased 7.8 percent from January to August, missing a forecast of 8.2 percent.
Retail sales also missed the mark, rising 10.1 percent in August from a year ago. A Reuters poll had estimated a rise of 10.5 percent.
The numbers may have come in softer than forecast, but investors should also take note of subsets in the data releases, Gavin Parry, managing director of Parry International Trading, told CNBC.
"Industrial production was very much affected by the weakness in coal production for over a year-and-a-half, and that kind of follows through a lot into the policies that are coming out of Beijing," he added, highlighting how authorities have curtailed excess supply in industries that have a negative impact on the environment.
The Australian dollar traded at $0.7996 after the lower-than-expected numbers out of China. The currency had traded as high as $0.8016 in the session on the release of solid jobs data. Movements in the Aussie dollar are influenced by China data due to Australia's dependence on exports.