Hong Kong stocks gave up early gains to finish in the red on Thursday.

The Hang Seng Index closed 363 points or 1.35 percent lower at 26,544.

Mainland stocks also finished lower, with the benchmark Shanghai Composite Index down 1.15 percent to 3,831 and the Shenzhen Component Index losing 1.06 percent at 13,075.

Across Asia, equities wavered after the US Federal Reserve lowered interest rates but left investors wondering how many more cuts were in the pipeline.

Tokyo closed in the green as the Fed decision boosted the US dollar against the yen and other currencies, helping Japanese exporters, and Seoul closed at a record high, fuelled by a tech stock surge led by Samsung Electronics and chipmaker SK hynix.

Taipei and Manila also rose, while there were losses in Sydney, Wellington, Singapore and Jakarta. (Xinhua/AFP)