HONG KONG - Asian markets were mixed on Thursday with traders winding down for the holidays while an upgrade of US economic growth provided some cheer.
The euro held up against major currencies as central banks bought into the under-pressure unit while traders sold it on lingering concerns about European sovereign debt.
Sydney added 0.43 percent, or 20.6 points, to end at 4,799.0 while Hong Kong ended 0.62 percent, or 142.22 points, lower at 22,902.97 and Shanghai eased 0.79 percent, or 22.68 points, to 2,855.22.
Taipei rose 0.43 percent, or 38.38 points, to 8,898.87.
Tokyo was closed for a public holiday.
Investors were given a strong cue from Wall Street where the Dow rose 0.23 percent after data from Washington showed recovery in the world's biggest economy was picking up strength.
The Commerce Department said Wednesday that the rate of growth in the third quarter had been revised up to 2.6 percent from a previous estimate of 2.5 percent.
The upbeat revision points to an improving recovery driven by higher consumer spending, business investment and stronger exports.
It nevertheless fell slightly short of most analysts' forecasts of an upward revision to 2.8 percent.
In Sydney shares in miner Riversdale rose 1.66 percent after resources giant Rio Tinto offered to buy it for 3.9 billion US dollars.
The offer amounts to a 46 percent premium to the value of the shares of Riversdale, which has several projects in Africa, before speculation on a tie-up with Rio started.
Rio shares edged up 0.48 percent.
On foreign exchange markets the euro was changing hands at 1.3130 dollars, up from 1.3095 dollars in New York Wednesday while it bought 109.11 yen from 110.02.
The single currency was at 1.2469 Swiss francs, slightly up from 1.2460.
The dollar was fetching 83.04 yen from 83.78 yen.
Traders' concerns over the euro were added to on Tuesday when Moody's rating agency warned it could downgrade Portugal due to its massive debt, while another agency, Fitch, said it could cut Greece to below investment grade.
Greece and Ireland have already been bailed out this year and there are worries that other European members, mainly Portugal, Spain, Belgium and Italy could be at risk in 2011.
Dealers also had an eye on the United States where data on durable goods orders, new home sales, personal spending and consumer confidence was due later in the day.
Oil remained at two-year highs, with New York's main contract, light sweet crude for February delivery, gaining 20 cents to 90.68 dollars a barrel in the afternoon.
The contract had breached October 2008 highs on Wednesday when it hit 90.80 dollars in intraday trade.
Brent North Sea crude for delivery in February was up 14 cents to 93.79 dollars. It had leapt to 93.94 dollars Wednesday - its highest level since October 2008.
Gold opened at 1,385.50-1,386.50 US dollars an ounce in Hong Kong, down from Wednesday's close of 1,389.00-1,390.00 dollars.
