As concern higher oil prices will curb demand for exports countered better-than-expected earnings from Inpex Holdings Inc, Samsung Heavy Industries Co and Compal Electronics Inc, Asian stocks were little changed.

Toyota Motor Corp and Hynix Semiconductor Inc fell on concern the jump in oil prices will boost costs and hurt sales. Inpex gained after the company reported earnings that topped its own forecast, while Samsung Heavy led South Korean shipbuilders higher after reporting a record profit rise. Compal, the world's second-largest maker of laptops, advanced after net income jumpedd for the first time in a year, Bloomberg News said.

"Rising oil prices will corrode manufacturers' earnings," said Sam Hsieh, head of research at Fuh-Hwa Investment Trust Co in Taiwan. "Companies that can deliver solid corporate earnings will attract investors' attention, especially when the market is directionless."

The Morgan Stanley Capital International Asia-Pacific Index, which last week reached a record, was steady after two days of gains. Benchmarks also rose in India, Pakistan, South Korea, Taiwan and Thailand. Hong Kong and Japan were little changed, while elsewhere markets fell.

The MSCI index was up 0.06 at 147.73 as of 4:08pm in Tokyo. Japan's Nikkei 225 Stock Average closed down less than 0.1 percent to 17,451.77, after earlier climbing as much as 0.3 percent.

Toyota, which overtook General Motors Corp to become the world's largest automaker in the first quarter, lost 0.5 percent to 7,370 yen (62.06 U.S. dollars).

Hynix, the second-biggest computer memory chipmaker, dropped 1.9 percent to 31,750 won (34.24 U.S. dollars).

Crude oil for June delivery in New York has jumped 6.6 percent in the past two days, topping 65 U.S. dollars a barrel for the first time in three weeks. Oil prices are climbing on concern shipments from Nigeria will be disrupted as complaints about its presidential election spawn more violence.