Volkswacht Bodensee - Asian markets mixed as investors await key speech

US Federal Reserve Chairman Jerome Powell, who has resisted public demands by President Donald Trump to slash rates, is scheduled to deliver remarks Friday at the annual central bankers conference in Wyoming.

Data last week provided a mixed picture of US inflation, making it uncertain if the Fed will lower rates as many investors expect in September -- which could bolster growth in the world's largest economy.

In a sign of further uncertainty, recent days have seen a sell-off of major technology stocks as investors grow wary of a sustained rally across the sector despite a range of global economic hurdles.

Wall Street closed mostly lower on Wednesday, with the tech-heavy Nasdaq falling again as shares in AI chip-maker Nvidia ticked down.

Despite the building unease, shares in Seoul closed up Thursday, bolstered by a rise in Samsung's price.

Shanghai and Sydney and also saw moderate gains on the day.

Meanwhile, Tokyo's Nikkei index closed lower for the second day in a row, while shares in Hong Kong were down 0.4 percent in the final hour before the end of the session.

Early trading in Europe saw London and Frankfurt make slight gains, while Paris started narrowly down.

Japan reported Wednesday that the country's July exports plunged at the steepest rate in over four years, straining under hefty US tariffs.

Wednesday also saw Hong Kong's stock exchange operator post record half-year revenue, riding a renewed surge in listings and trading activity in the Chinese finance hub.

The slump in tech stocks on Wednesday "appeared more like profit-taking than a shift in conviction", wrote Ahmad Assiri, research strategist at Pepperstone, in a note.

"This rotation out of tech suggests a cooling-off phase rather than a wholesale shift in positioning," he added.

Global markets have fluctuated recently on the prospects of a peace deal in Ukraine, following days of high-stakes diplomacy in the aftermath of Trump's Friday meeting with Russian counterpart Vladimir Putin.

But hopes for an imminent end to the war -- started by Moscow's invasion over three years ago -- were tempered Wednesday after Russia said it must be included in any discussions on security guarantees for Ukraine.

The diplomatic whirlwind has sparked volatility in oil markets as traders speculate over the possible lifting of sanctions on Russia, a major producer.

Oil prices continued to rise Thursday on the heels of a report the previous day showing a sharp decline in US crude stockpiles.

- Key figures at around 0715 GMT -

Tokyo - Nikkei 225: DOWN 0.7 percent at 42,610.17 (close)

Hong Kong - Hang Seng Index: DOWN 0.4 percent at 25,057.79

Shanghai - Composite: UP 0.1 percent at 3,770.78 (close)

London - FTSE 100: UP 0.1 percent at 9,297.78

Euro/dollar: DOWN at $1.1635 from $1.1648 on Wednesday

Pound/dollar: DOWN at $1.3446 from $1.3452

Dollar/yen: UP at 147.55 yen from 147.44 yen

Euro/pound: DOWN at 86.54 pence from 86.59 pence

West Texas Intermediate: UP 0.8 percent at $63.22 per barrel

Brent North Sea Crude: UP 0.7 percent at $67.30 per barrel

New York - Dow: FLAT at 44,938.31 (close)

S.Gantenbein--VB