Asian stocks turned in a mixed performance on Thursday, with rising tensions between the United States and China, and mixed earnings, including a sharp drop in Tesla's profit, keeping investors on edge.

According to a White House official, the Trump administration is weighing export restrictions against China that would bar the purchase of a wide swath of critical software in response to China's tightened rare earth exports.

China's Shanghai Composite index ended up 0.22 percent at 3,922.41, reversing early losses as investors braced for a key meeting between Chinese President Xi Jinping and U.S. President Donald Trump slated for next week.

Hong Kong's Hang Seng index rose 0.72 percent to 25,967.98 as investors awaited a communique outlining the government's economic, political and social agenda from the four-day Communist Party conclave in Beijing.

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