TOKYO (AP) — Asian shares were mixed on Thursday, as Wall Street’s big recent rally lost some momentum following a pair of potentially discouraging reports on the American economy.

U.S. futures edged lower and oil prices declined.

Japan's benchmark Nikkei 225 shed 0.2% to 37,658.46, while Australia's S&P/ASX 200 declined nearly 0.1% to 8,535.10.

In South Korea, the Kospi jumped 2.1% to 2,829.48 after the country's new president and leading liberal politician Lee Jae-myung began his term, vowing to restart talks with North Korea and beef up a trilateral partnership with the U.S. and Japan.

Hong Kong's Hang Seng gained 0.9% to 23,856.54, while the Shanghai Composite was little changed, inching down less than 0.1% to 3,374.30.

On Wednesday, the S&P 500 finished the day virtually unch

See Full Page