HONG KONG: Asian shares traded in tight ranges Thursday following a weak lead from Wall Street overnight, as unemployment fears resurfaced in the United States.

In Tokyo the Nikkei was flat by midday, as Hong Kong pared early gains in morning trade. Sydney and Singapore were both flat, while Chinese shares were 0.29 percent lower.

Uninspired investors mulled a mixed showing on Wall Street after a disappointing report on private-sector jobs and Federal Reserve minutes that noted unemployment would "remain elevated for quite some time".

However, energy and resources stocks gained as crude continued its recent run amid a severe winter in the northern hemisphere.

Japanese stocks were helped by easing concerns over the yen's recent strength, which is bad for exporters.

While Japan's new Finance Minister Naoto Kan is seen as less tolerant of a stronger yen than outgoing Hirohisa Fujii, the appointment has not had a major impact on the stock market, dealers said.

"A lot of investors are looking at the situation calmly now," Yutaka Miura, senior technical analyst at Mizuho Securities, told Dow Jones Newswires.

"The Nikkei is expected to see another rally thanks to the weaker yen, but gains may be limited as US markets were mixed" overnight, Miura said.

The Dow Jones Industrial Average edged 1.66 points higher to close at 10,573.68.

Ahead of a key Labor Department jobs report Friday, payrolls firm ADP said the nonfarm private sector shed a higher-than-expected 84,000 jobs in December.

Crude oil continued to gain. Overnight, New York's main futures contract, light sweet crude for delivery in February, jumped 1.41 dollars to settle at 83.18 dollars, a 14-month high.

London's Brent North Sea crude for February advanced 1.30 dollars to close at 81.89.

In Asian trade the dollar rose to 92.34 yen in Tokyo morning trade, from 92.27 yen in New York late on Wednesday. The euro gained to 1.4426 dollars after 1.4406 and to 133.23 yen against 132.94.

The dollar's gains, however, were limited after the release of minutes from last month's meeting of the Federal Open Market Committee dampened expectations for higher US interest rates.

In Hong Kong, gold opened higher Thursday at 1,135.00-1,136.00 US dollars an ounce, up from Wednesday's close of 1,123.50-1,124.50 dollars.