Most Asian stocks, but Japan lags on stronger yen; Nikkei down 1.12%

Investing.com - Most Asian stocks traded higher Thursday on a day short on marquee economic news releases, though traders continued to mull the prospect of the Federal Reserve tapering its quantitative easing program as soon as next month.

In Asian trading Thursday, Japan's Nikkei 225 lost 1.12% as USD/JPY fell below 98. While the yen remains the worst-performing developed market currency in the world this year, a scenario that benefits Japanese exporters and stocks, the currency has gained some strength recently prompting some traders to wonder if the Bank of Japan needs to add to its already massive stimulus program to further weaken the yen.

Hong Kong's rose 0.48% a day after trading was halted due to a typhoon warning. The Shanghai Composite added 0.14%. Utilities names were among the winners in Hong Kong while materials and energy stocks led the losers.

Australia's S&P/ASX 200 was little changed despite a bullish profit report from AMP Ltd., the country's largest life insurance provider. Action in Aussie stocks could be lethargic in the coming weeks as the country inches closer to national elections.

New Zealand's NZSE 50 rose 0.21% after the ANZ Bank survey of job ads showed the index climbed 4.5% year-over-year. Last month, there was a 11% increase in newspaper adds and a 2.3% gain in online job ads.

However, the data showed New Zealand's unemployment rate ticked up to 6.4% in the second quarter from 6.2% in the first quarter.

Total job ads in Wellington rose 4.6% while the Canterbury area showed a 2.7%, according to the data. Canterbury is still in the midst of recovery efforts following a devastating 2011 earthquake.

South Korea's Kospi added 0.57% while Singapore's Straits Times Index fell 0.52%. S&P 500 futures inched down 0.03% a day after the benchmark U.S. index lost 0.52%.

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