New Delhi, July 31 -- Asian shares were mostly lower Thursday after U.S. stocks slipped, as doubts rose on Wall Street about whether the Federal Reserve will deliver economy-juicing cuts to interest rates by September.

Bucking the trend, Japan's Nikkei 225 rose 1.1% to 41,075.85 after the Bank of Japan kept interest rates steady at 0.5% and raised inflation projections. The move follows Tokyo's trade deal with Washington.

In Seoul, the Kospi edged down 0.6% to 3,235.83 after South Korea reached a 15% tariff deal with the U.S., with no levies on American goods like cars, trucks and farm products. The deal also includes South Korea's purchase of $100 billion U.S. energy imports and $350 billion worth of investments in the U.S.

Hong Kong'...