Asian stocks opened mostly lower on Thursday

Asian stocks opened mostly lower on Thursday, with investors awaiting a flurry of economic data across the region.

Due at 0930 SIN/HK, China's home price index is expected to show the country's all-important property sector emerging from the doldrums, thanks to the authorities' aggressive monetary easing.
According to a report by the China Index Academy (CIA), the average price of a new home in the mainland's 100 major cities rose 0.5 percent month-on-month in May, marking the first growth in prices since February.

Bank Indonesia is seen holding its key rate at 7.50 percent, according to a Reuters poll where all 25 economists expect no change in the central bank's monetary policy due to persistent worries over Indonesia's frail currency, inflation rate and current account deficit.

Overnight, Wall Street shares handed over a mildly positive lead. All three major indexes ended up 0.2 percent each amid choppy trade after the Federal Reserve said the U.S. economy is likely strong enough to withstand a rate hike later this year.
Nikkei sags 0.3%

Japan's Nikkei 225 index inched down in early trade, as the Bank of Japan kicks off its two-day policy meeting.

Banks and insurers were among the laggards; T&D Holdings and Dai-ichi Life Insurance opened down 2.6 and 1 percent, respectively, while Mizuho Financial Group and Resona Holdings tanked more than 1 percent each.

Kospi rises 0.5%
South Korea's benchmark Kospi extended Wednesday's gains.

Posco opened up 0.5 percent after Standard & Poor's revised its outlook for the steelmaker's BBB-plus credit rating to stable from negative, adding that it expected the company to start generating positive operating cash flow for the first time since 2010.

Cheil Industries and Samsung C&T notched up 0.3 percent each following an announcement by Samsung Group that the conglomerate is confident it will defeat Elliot Associates' attempt to derail the $8 billion planned merger between Cheil and Samsung C&T.

Cheil Industries is the de facto holding company of Samsung Group.

ASX drops 0.5%

Australia's S&P ASX 200 index edged down due to a bruised mining sector.

Market bellwether BHP Billiton shed 0.3 percent, while Rio Tinto and Fortescue Metals shaved off 1 and 3.2 percent, respectively.

Shares of Woolworths plunged 1.4 percent from the get-go following an announcement on Wednesday that its chief executive Grant O'Brien would retire after nearly four years at the helm of the Australian supermarket firm.
Meanwhile, New Zealand's economy expanded 0.2 percent on-quarter in the January-March period, according to official statistics released early Thursday. The reading marked the country's slowest pace of growth in two years due to a drought which curbed dairy production.
The New Zealand dollar shed nearly half a U.S. cent following the data, while the key stock index hovered in neutral territory.