U.S. equities closed lower on Thursday, with real estate falling around 1 percent, as investors eagerly awaited President-elect Donald Trump's inauguration.

China's gross domestic product (GDP) grew 6.8 percent on-year in the fourth quarter, slightly beating expectations and signalling growth was stabilizing.

Federal Reserve Chair Janet Yellen backed a strategy for gradually raising interest rates, arguing that the central bank wasn't behind the curve in containing inflation pressures but nevertheless can't afford to allow the economy to run too hot.

Steven T. Mnuchin, President-elect Donald J. Trump's nominee for treasury secretary, during his confirmation hearing on Thursday.

People are reflected in a display showing the Nikkei average (top in L) and the NASDAQ average of the U.S outside a brokerage in Tokyo, Japan, November 7, 2016.