In Hong Kong, the benchmark Hang Seng Index ended 43 points, or 0.2 percent, down at 25,396 on turnover of HK$263.71 billion.
The tech index rose 15 points, or 0.3 percent, to 4,792 while the China enterprises index fell 19 points, or 0.2 percent, to 8,426.
Materials shares tumbled 5.4 percent, with China Gold International Resources slumping HK$17.10, or 8.43 percent, to HK$185.70.
Shares of Tencent Holdings fell 4.5 percent to a two-week low after the company reported a record quarterly negative free cash flow while raising its capital expenditure on AI investments.
“Investors are concerned that weak consumption trends may limit ad-load expansion and revenue growth, while AI investments may take longer to generate commensurate returns,” UBS analysts said in a note to clients.
On the mainland, the Shanghai Composite Index fell 19 points, or 0.5 percent, to close at 3,926 on turnover of 1.16 trillion yuan.
The Shenzhen Component Index was 125 points, or 0.87 percent, lower at 14,289 on turnover of 1.39 trillion yuan while the ChiNext Index declined 16 points, or 0.45 percent, to 3,586 on turnover of 661.48 billion yuan.
Optical module leader TFC Optical Communication rose as much as 13 percent after US-listed CoreWeave and Super Micro Computer posted upbeat forecasts that signalled booming demand for AI computing capacity.
However, the broader 5G Communication Index, which rose in the morning session, ended the day roughly flat.
The index was still up nearly 14 percent this month as investors regained confidence in optical communication shares following a recent sell-off.
Mainland memory chip giant CXMT lost 1.2 percent.
Onshore financial shares edged up 0.4 percent after China’s central bank said on Wednesday it would maintain an appropriately loose monetary stance and roll out practical, effective measures as needed, but stopped short of signalling explicit cuts to policy rates or banks’ reserve-requirement ratio.
In Tokyo, the Nikkei closed 784 points, or 1.16 percent, higher at 68,308 while the Topix hit a record high of 4,176, up 37 points or 0.86 percent, as chip-related stocks tracked US peers higher and a robust earnings outlook for local firms lifted sentiment.
In Seoul, the Kospi ended 234 points, or 3.56 percent, higher at 6,813 to hit its highest level in three weeks, led by a jump in chipmakers. (Reuters/Xinhua)