Asian stock indices closed lower in quiet trade. No major economic reports were released in Asia and the U.S.

Market participants continue to monitor developments in Ukraine. Ukrainian government accused Russian forces of crossing the Ukrainian border late on Wednesday.

The National Bureau of Statistics released China's industrial profits. China's industrial profits increased 13.5% in July, after a 17.9% rise in June.

Qantas Airways Ltd. shares jumped 7.0% after the company said it expects to return to profit in first half of 2015. The company also posted a narrower-than-forecasted annual loss.

Indexes on the close:

Nikkei 225 15,459.86 -74.96 -0.48%

Hang Seng 24,741 -177.75 -0.71%

Shanghai Composite 2,195.82 -13.65 -0.62%