Asia-Pacific markets are trading mixed after the U.S. posted more data that showed inflation was easing.
The producer price index for April, posted a year-on-year increase of 0.2%, against a Dow Jones estimate for 0.3% and after declining 0.4% in March. Excluding food and energy, core PPI also rose 0.2%.
Australia's S&P/ASX 200 rose marginally to end the day at 7256.7, while in South Korea, the Kospi lost 0.63% and closed at 2,475.42 and the Kosdaq saw a smaller loss of 0.26%, finishing at 822.43.
In mainland China, the Shanghai Composite fell 1.12% and closed at 3,272.36, dragged lower by in academic and educational services stocks. The Shenzhen Component lost 1.23% and led losses in the region, ending at 11,005.64.
Hong Kong's Hang Seng index also fell 0.7% ahead of its first-quarter GDP figures.
Japan's Nikkei 225 bucked the regional trend and rose 0.9%, closing at 29,388.3. The Topix also climbed 0.64% and ended at 2,096.39, led by health care and utilities stocks.
Overnight in the U.S., stocks ended mixed, with the Dow Jones Industrial Average and S&P 500 slipping 0.66% and 0.17% respectively as Disney shares fell more than 8% the day after the media giant released its fiscal second-quarter results.
Concerns around regional banks persisted as investors further digested economic data releases. In contrast, the Nasdaq Composite posted a gain of 0.18% as Alphabet shares gained near their highest level since August.
— CNBC's Hakyung Kim, Brian Evans and Jeff Cox contributed to this report.