Hong Kong: Asian shares were mixed Wednesday as downbeat data from China and Japan sparked renewed concerns for growth in the region’s two biggest economies.

Tokyo shrugged off early losses to close 0.35 per cent, or 52.32 points, higher at 15,213.63, despite data which showed the Japanese economy contracted sharply in the latest quarter as a sales tax increase slammed the breaks on household spending.

Shanghai ended flat at 2,222.88 and Hong Kong closed up 0.81 per cent, or 200.93 points, at 24,890.34 as new statistics showed key indicators including industrial production slowed in July.

Seoul gained 1.02 per cent, or 20.89 points, to 2,062.36 but Sydney eased 0.28 per cent, or 15.62 points, to 5,514.7.

Minutes before the opening bell, Tokyo announced that the world’s number three economy shrank by 1.7 per cent in the April-June quarter — which translated into a 6.8 per cent drop on an annualised basis.

A string of disappointing Chinese data further weighed on market sentiment.

China’s bank lending plunged to 385.2 billion yuan ($62.5 billion) in July, a dramatic decline from June’s 1.08 trillion yuan as the weakening property sector hit demand for loans.

China also released figures for industrial output, retail sales and fixed assets investment that were in line with expectations but slightly slower from the previous month’s data.

Investors were also cautiously eyeing geopolitical tensions in Ukraine as a convoy of 262 Russian trucks headed towards the border. Kiev vowed to block the aid mission from its territory over fears it was a ploy to bolster pro-Kremlin rebels.

The United States and European Union have already imposed an array of sanctions on Russia in response to what they see as Moscow’s military support for rebels in Ukraine.

The Dow Jones Industrial Average dipped 0.06 per cent to 16,560.54 on Tuesday as new data showed investment sentiment in Germany, the eurozone’s biggest economy, was taking a hit from the crisis over Russia and Ukraine.

The widely watched investor confidence index calculated by the ZEW economic institute fell 18.5 points to 8.6 points in August, its lowest level since December 2012.

In other markets:

— Wellington ended flat, edging down 0.02 per cent, or 1.10 points, to 5,054.70.

Casino operator SkyCity was up 1.97 per cent at NZ$3.62 per cent and Trade Me slipped 0.86 per cent to NZ$3.44.

— Manila also ended flat, edging up 0.04 per cent, or 2.75 per cent, to 6,986.24.

The Philippine Long Distance Telephone Co. rose 0.26 per cent to 3,124 pesos but Ayala Land Inc was unchanged at 31.70 pesos.

— Taipei rose 0.74 per cent, or 68.19 points, to 9,231.31.

Taiwan Semiconductor Manufacturing Co added 0.82 per cent to Tw$122.5 while Cathay Financial Holding was 1.54 per cent higher at Tw$49.3.

— Mumbai was flat, closing down 0.15 per cent or 38.18 points to end at 25,918.95.

Unitech slid 17.14 per cent to 21.75 rupees, while Engineers India fell 13.89 per cent to 238.70 rupees.

-- Bangkok added 1.59 per cent or 24.24 points to 1,544.55.

Coal producer Banpu gained 4.88 per cent to 32.25 baht, while Bumrungrad Hospital soared 5.51 per cent to 134.00 baht.

— Kuala Lumpur’s main index added 7.65 points, or 0.41 per cent, to close at 1,858.04.

Malaysian Airline System, branded as Malaysia Airlines, gained 1.96 per cent to 0.26 ringgit, Public Bank rose 0.11 per cent to 19.02 while Malayan Banking was flat at 9.94 ringgit.

— Jakarta ended up 0.70 per cent, or 35.87 points, at 5,168.27.

Cigarette maker Gudang Garam gained 1.19 per cent to 55,050 rupiah, while paper manufacturer Pabrik Kertas Tjiwi Kimia slipped 0.96 per cent to 1,030 rupiah.

— Singapore’s Straits Times Index eased 0.06 per cent, or 1.98 points, to 3,301.41.

Oversea-Chinese Banking Corporation rose 0.49 per cent to Sg$10.19 while Singapore Telecommunications fell 0.26 per cent to Sg$3.91.