Asian shares mostly slipped Thursday, led by losses of more than 2% in Chinese benchmarks, as the region’s main stock market in Tokyo stayed closed for New Year holidays.

Tokyo’s Nikkei 225 index climbed 1.4% to 40,139.90, while the Japanese yen sank further after the central bank governor indicated that interest rate hikes might be delayed by threats to the economy such as higher U.S. tariffs on imports.