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• Asian markets were little changed early during Thursday trade, as investors searched for direction ahead of a deadline when tariffs from the U.S. and China are due to be implemented.

Japan's Nikkei 225 hovered around the flat line in the morning, inching higher by 0.02 percent as declines in oil producers and banks offset gains seen in automakers and the pharmaceuticals sector.

Elsewhere, South Korea's Kospi advanced 0.28 percent as some blue chip tech names carved out slight gains, with Samsung Electronics tracking higher by 0.54percent. Australia's S&P/ASX 200 drifted higher by 0.09 percent in early trade.

• Markets stateside were closed on Wednesday because of the Independence Day holiday.

• Concerns over a trade dispute between the U.S. and China have weighed on market sentiment in the lead-up to tariffs both countries say will take effect on July 6.The Trump administration has levied a 25 percent tariff on $34 billion in Chinese goods, while the Chinese government has retaliated by announcing tariffs on the same value of U.S. goods.

Due to the time difference, duties imposed by Beijing will likely take effect before Washington's tariffs on Friday. China's finance ministry, however, has said that it "absolutely will not fire the first shot" in its trade spat with the U.S., Reuters reported.

Reference: CNBC