Shares in Asia Pacific were mixed on Thursday following an overnight decline on Wall Street.

Hong Kong's Hang Seng index closed fractionally lower at 27,294.71 amid uncertainty, one day after violent clashes between protesters and riot police over a controversial extradition bill.

"You already have significant political risk premium embedded into Hong Kong equities because of the trade effects that are going on and Hong Kong is the gateway to China. So the outlook for China has taken a knock in the past month or so," Binay Chandgothia, managing director and portfolio manager at Principal Global Investors, told CNBC's "Squawk Box" on Thursday.

"Add to that the possibility that something wrong could happen in terms of the ongoing protests. Then you could see Hong Kong equities get cheaper," Chandgothia said, adding that valuation levels in the Hong Kong markets are "fairly attractive" at present.

Mainland Chinese stocks were higher on the day, with the Shanghai composite up slightly to 2,910.74 and the Shenzhen component rising fractionally to 8,951.61. The Shenzhen composite also advanced 0.287% to 1,532.79.

Elsewhere, Japan's Nikkei 225 slipped 0.46% to close at 21,032.00, as shares of Apple supplier Japan Display plummeted 11.94% after the company announced new restructuring plans, with the company's president and CEO set to step down. The Topix index also declined 0.82% to finish its trading day at 1,541.50.

Over in South Korea, the Kospi shed 0.27% to close at 2,103.15 as shares of chipmaker SK Hynix dropped 3.35%. The ended its its trading day in Australia largely flat at 6,542.40.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.36%, as of 4:11 p.m. HK/SIN.