Asia: Stocks little changed on Japanese data, Chinese policy
Asian stocks were little changed as investors weighed Japanese data on jobs, inflation, household spending and industrial production.
Japanese inflation eased to 3.4% in July from 3.6% in June, as expected by analysts.
The jobless rate in the world's third largest economy rose to 3.8% in July from 3.7% in June, surprising economists who had forecast it to remain unchanged.
Household spending fell 5.9% in July after dropping 3% a month earlier, more than the 2.9% dip predicted by the market.
Japan's industrial production increased 0.2% month-on-month after declining 3.4% in June. Consensus was for a 1% rise.
"Our forecast for industrial production in August and September based on the industrial production plans is now 0.2% and 1.5% respectively," said Danske Bank.
"Hence, industrial production will recover gradually but is now expected to contract 1.2% quarter-on-quarter (q/q) in Q3 after contracting 6.8% q/q in Q2. Hence, industrial production at the moment points to a relatively weak recovery in Japan."
Japan's Nikkei ended down 0.23%.
Hong Kong's Hang Seng index finished flat while the Shanghai composite rose 0.97% after China's cabinet said it will maintain its "targeted" policy stance to keep economy growth on track.
At the State Council meeting on Wednesday, chaired by Premier Li Keqiang, the cabinet vowed to open up more projects in industries dominated by state monopolies to private investors.
"We will maintain targeted controls and use the long-term approach to ensure smooth economic and social development," the cabinet said in a statement published on the central government's website, www.gov.cn.
In corporate events, Aluminum Corp. retreated in Hong Kong after the Chinese company reported a wider first-half loss, reflecting lower prices.
CSPC Pharmaceutical Group Ltd. slumped after a shareholder said it would sell an 11% interest in the Hong Kong-based company.
RD