Asian shares almost flat in muted trade, China benchmark end flat

Asian stocks ended little changed in muted trade on Thursday as an AI-driven rally showed signs of fatigue and hopes of aggressive Fed rate cuts faded.

Amid renewed concerns stemming from a U.S. labor market slowdown to sticky inflation, investors awaited more U.S. economic data, including jobless claims and PCE inflation data for directional cues.

China's Shanghai Composite index ended flat with a negative bias at 3,853.80. U.S. President Donald Trump is expected to sign the TikTok deal later today, according to a White House source.

Hong Kong's Hang Seng index ended down 0.13 percent at 26,484.68 as the city returned to normalcy after Super Typhoon Ragasa.

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