Asian markets closed mixed on Thursday as investors digested remarks from Federal Reserve Chair Janet Yellen and oil remained volatile.
In Hong Kong, the Hang Seng index, which resumed trading today after being shut from Monday through Wednesday for the Lunar New Year holiday, fell 742.37 points, or 3.9%, to 18,545.80, hovering at levels not seen since the second quarter of 2012.
Hong Kong-listed CNOOC, Petrochina and Sinopec sold off upwards of 6.4%
Korean stocks sagged, with blue-chip stocks such as Samsung Electronics down 2.9%, and Posco closing down 2.5%. In South Korea, banks and brokerages took a hit, with shares of Samsung Securities falling 6.4%. and Mirae Asset Securities dropping 6%
On the other hand, South Korea's defense stocks soared on the back of ongoing tensions in the Korean peninsula between the North and the South.
North Korea conducted a nuclear test on Jan 6. and has since defied warnings from the U.S. and the United Nations with plans to launch a space rocket, which it claimed was for a satellite program, but is widely considered to be a cover for developing ballistic missile technology.
Shares of Firstec closed up 7.5%, Speco gained 28.3% and Victek soared 29.9%.
Australia's so-called Big Four banks retraced losses to close up, with shares of ANZ gaining 1.3% Westpac up 0.9% and NAB up 0.7%. In recent days, banking stocks in Australia have come under pressure following the global volatility in the U.S. and European banking sectors. The Commonwealth Bank of Australia erased gains of over 1% to finish up 0.1%.
With earnings season continuing, shares of hearing aid maker Cochlear went up 14.1%after the company reported half-yearly net profit was up by 32% at A$94 million ($67 million) for the six months to December 31. It beat analyst expectations and the company raised its full-year earnings forecast.
Shares of Suncorp retraced losses of as much as 1% to close flat. Earlier, the insurer and bank beat market earnings forecasts. Reports said Suncorp's first-half net profit was A$530 million, more than the projected forecast of A$508 million by Macquarie.
Tokyo markets are closed for holiday.
Mainland Chinese markets, and Taiwan remained closed for the week.
In other markets;
In Korea, the Kospi index gave back 56.25 points, or 2.9%, to 1,861.54
In Singapore, the Straits Times Index fell 43.82 points, or 1.7%, to 2,538.28
The NZX 50 in New Zealand removed 32.47 points, or 0.5%, to 5,987.02.
In Australia, the ASX 200 revived 45.4 points, or 1%, to 4,821.08
