Rate cuts were also on investors' radar screens in China after the governor of the central bank said the country would face pressure to lower borrowing costs until the middle of next year.
This was underlined by a report from the Xinhua news agency that profits at state-owned companies had dropped 26 per cent in the first 11 months of the year.
The Shanghai composite index edged up 0.5 per cent to 1,975.01 points, having fallen 1.8 per cent. Property stocks and some financials ended the day higher, with Poly Real Estate rising 7.3 per cent to Rmb18.34, Citic Securities 2.4 per cent to Rmb21.47 and insurance company Ping An 1.2 per cent to Rmb27.30.
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