Asian Shares Mostly Lower Ahead of ECB Outcome

Asian shares were mostly lower Thursday, as investors took a cautious approach ahead of statements from the European Central Bank and the Bank of Japan. Hong Kong's Hang Seng was down 0.4% after leaping to its highest close since May 2008 yesterday, while the Shanghai Composite Index was down 0.2%, after its highest close since June 2013. The Nikkei Stock Average was down 0.2% and Australia's S&P/ ASX ASX.AU -0.57% 200 was down 0.3%. A meeting by the European Central Bank on Thursday is expected to bring further details on the bank's plans to start asset purchases, a move that would work in favor of the dollar's strength. But major Asian bourses were weaker given a lack of strong cues from a mixed finished by US stocks overnight, according to wsj.com