Most Asian markets closed up on Thursday, following a mostly higher finish on Wall Street overnight amid an oil price surge.
In Japan, the Nikkei 225 lost 145.26 points, or 0.9%, to 17,044.99,
The Hang Seng index in Hong Kong recovered 191.5 points, or 1%, to 19,183.09
In Japan, shares of Sharp closed up 16.8% after Japanese broadcaster NHK initially reported that the troubled electronics maker had accepted a takeover offer by Taiwan's Hon Hai Precision Industry, better known as Foxconn, and rejected a rescue plan by a Japanese state-backed fund after months of uncertainty over the company's fate. Foxconn offered to invest over 700 billion yen ($5.94 billion U.S.) in Sharp, according to NHK.
Later Reuters reported Sharp said no final decision has been made to be rescued by Foxconn, but that a source said Foxconn gained negotiating rights.
Toshiba shares rose 2.9% retracing early losses of as much as 5.6%. The company said it is looking into whether to deepen its full-year loss forecast. The company is set to report its earnings later in the day. Japanese news media Kyodo News and the Nikkei reported that the company will deepen its net loss projection to over 600 billion yen ($5.1 billion U.S.), from the current forecast of 550 billion yen in losses, for the year ending March 31.
The U.S. dollar-yen pair traded at 117.90, down from levels over 120 earlier this week. Japanese export stocks were mixed with shares of Toyota down 2.1%, while Canon added 1.1%. A stronger yen is usually a negative for exporters as it trims their overseas revenue when converted back to local currency.
Down Under, resources stocks were also trading mostly higher, with Rio Tinto gaining 8.9% and BHP Billiton gaining 8.3%
Fortescue shares closed up 11.7% as iron ore prices saw a rebound. Dalian iron ore futures for May delivery were up as much as 4% at 340 yuan ($52 U.S) a tonne, off the session high of 341 yuan. It was at its strongest level since October 20. The spot iron price was also up, with iron ore for immediate delivery to China's Tianjin port at $44 U.S., the highest since November 23.
Most energy plays saw rebounds, with shares of Santos up 13.4%, Oil Search up 7.1%, Hong Kong-listed CNOOC gaining 6.1% and Inpex, which is set to report earnings today, gaining 2.9%
In other markets
In Shanghai, the CSI 300 recovered 36.12 points, or 1.2%, to 2,984.76
Markets in Taiwan were shuttered for holiday
In Singapore, the Straits Times Index regrouped 7.75 points, or 0.3%, to 2,558.49
The Kospi in Korea regained 25.59 points, or 1.4%, to 1,916.26
In New Zealand, the NZX 50 inched up 4.33 points to 6,137.71
In Australia, the ASX 200 index recovered 103.6 points, or 2.1%, to 4,980.36
