Asian stocks are trading mixed, paring this year's advance, with a deadline looming for the U.S. Congress to reach a budget agreement before the so-called fiscal cliff of automatics tax increases and spending cuts takes effect.
Hong Kong's Hang Seng index declined by 82.15 points, or 0.36%, to trade at 22,584.44. China's Shanghai Composite increased 3.21 points, or 0.22% to trade at 2,236.46.
Taiwan's Taiex index rose 51.09 points, or 0.67%, to trade at 7,699.5. South Korea's Kospi index increased 9.7 points, or 0.49% to trade at 1,997.05. Singapore's Straits Times indexed declined 18.68 points, or to 0.58% trade at 3,172.99 (07.25 a.m., IST).