Asian stock markets were trading lower on Thursday with Japanese Nikkei stock market trading lower ,down 1.59 percent down 168.72 points to 10,470.99.Seoul’s Kospi lost 0.38 percent down 6.17 points to 1,607.95.Hang Seng Index down 1.00 percent down 204.72 pints to 20,251.60.Shanghai Composite Index gained 0.55 percent up 16.32 points to 2,983.91.S&P/ASX 200 index of Australian shares gained 0.12 percent.Commodity stocks were seen some profit booking after China's government said it may curb overcapacity in the steel and cement industries.Mining giants Rio Tinto and BHP Billiton trading down more than 1 percent.Crude oil futures contract was down 18 cents at $71.35 per barrel.