Asian stocks fell in thin holiday trade on Thursday, with the Australian and New Zealand markets closed for Anzac Day.
Investor sentiment was hit as Facebook parent Meta Platforms posted better-than-expected earnings but warned that expenses would be higher this year due to "aggressive" spending on artificial intelligence (AI).
Investors also looked ahead to the release of U.S. GDP data for the first quarter as well as earnings reports from major companies across various sectors, including tech giants like Intel, Microsoft, and Alphabet, for more direction.
Chinese stocks edged up slightly, with the benchmark Shanghai Composite index rising 0.27 percent to 3,052.90.
Hong Kong's Hang Seng index edged up 0.48 percent to 17,284.54 after reports that global funds are raising their allocation to China on hopes for economic and earnings recovery.
Japanese markets tumbled as the yen weakened beyond 155 per dollar for the first time in more than three decades, raising speculation about the Bank of Japan intervening in the forex market to prop up the ailing currency.
The Nikkei average fell 2.16 percent to 37,628.48 after a three-day rally. The broader Topix index dropped 1.74 percent to 2,663.53 as the Bank of Japan kicked off its two-day policy meeting.
Tech stocks and exporters lost ground, with SoftBank Group, Advantest, Tokyo Electron and Toyota Motor falling 2-3 percent.
Camera maker Canon lost 8.4 percent after posting a drop in first-quarter operating profit. Robot maker Fanuc tumbled 3.4 percent after its annual profit forecast came in below expectations.
Seoul stocks fell sharply, with the Kospi average ending down 1.76 percent at 2,628.62.
Nvidia supplier SK Hynix plummeted 5.1 percent despite returning to profit in the first quarter of this year on the back of rising global demand for premium memory chip products used for artificial intelligence (AI) computing.
Data showed earlier in the day that the South Korean economy grew at the fastest pace in more than two years in the first quarter on robust exports.
U.S. stocks ended narrowly mixed overnight as investors awaited cues from upcoming inflation and GDP data as well as mega-cap tech results.
In economic news, new orders for key U.S.-manufactured capital goods rose moderately in March but the data for the prior month was revised lower, pointing to weak business equipment spending in the first quarter.
The Dow inched down 0.1 percent, while the S&P 500 ended flat with a positive bias and the tech-heavy Nasdaq Composite edged up 0.1 percent.
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