Japan's Nikkei share average settled 0.6% down at 19, 234. 62 points as market's sentiment was dimmed by a stronger yen. Investors also took caution of the weakened financials which were weighed down by the decline in U.S. bond yields after relatively dovish comments from a top U.S. Fed Reserve official.

The benchmark index ended negative for the week, declining by 0.7%. The Topix shed 0.4% to 1,544.54 while the JPX-Nikkei Index 400 lost 0.5% to 13,855.47.

New York Fed Chief William Dudley's recent comments was perceived as more dovish compared to Fed Chair Janet Yellen's remarks before the Congress, who struck a hawkish tone.

Financial stocks lost ground after a recent rally due to the surge in U.S. yields earlier this week. The sector underperformed after the yields on the 10-year notes sank to 2.44% down from the 2.50% seen on Wednesday.

Toshiba Corp. posted a steep drop of 9.2% after rating agency S&P issued a warning that it could slash the group's rating if financial backing from lenders includes any form of loan restructuring. There were also concerns that the stock may be downgraded to the second section of Tokyo Stock Exchange if continues to underperform until the end of the business year.

Bundesbank said on Monday that Germany's strong growth will likely continue in the spring.

Germany's economy rose 0.6 percent in the first quarter of the year. That was up from the previous quarter's 0.4 percent growth.

According to Bundesbank's monthly report, the construction and service sector will continue to grow.

Demand from both domestic and foreign markets should support industry, the central bank said.

Higher home sales strengthened Toll Brothers Inc.'s quarterly profit by 40 percent.

The U.S.-based luxury homebuilder said that its net income increased to 124.6 million, or 73 cents per share, in the second quarter ended April 30 from $89.1 million, or 51 cents per share, a year earlier.

Toll said that its previous forecast of 6,700 to 7,500 homes for this year has been raised to 6,950 and 7,450 homes.

Compare revenue climbed 22.2 percent to $1.36 billion.

Nigeria's National Bureau of Statistics said on Tuesday that the Nigerian economy declined 0.52 percent in the first quarter of the year compared to a 0.67 contraction in the corresponding quarter in the previous year.

Nigeria's GDP registered its first annual contraction in 25 years after falling by 1.5 percent in 2016 due to lower oil revenue and a shortage of hard currency.

The statistics bureau said the average oil production in the OPEC member state stood at 1.83 million barrels per day in the first quarter.

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May 23 at 22:25 UTC

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