Asian markets are exhibiting mixed trend in the early deals on Wednesday following Wall Street's tech-driven rise as investors waited for word from the US Federal Reserve on a possible interest rate hike. Chinese shares fell despite upbeat data from China. China reported industrial production for May rose a faster than expected 6.5% on year, and retail sales also gained a clip quicker at 10.7%, while fixed-asset investment came in a less than seen 8.6%. Though, the Japanese market is rebounding following the overnight gains on Wall Street. However, gains are modest ahead of the US Federal Reserve's monetary policy decision due later in the day. Among the other Asian markets, Taiwan, Hong Kong, South Korea and Singapore are modestly lower. Bucking the trend, Indonesia, and Malaysia are in positive territory.
Hang Seng declined 66.1 points or 0.26% to 25,786.00, Shanghai Composite decreased 18.43 points or 0.58% to 3,135.32, KOSPI Index dipped 5.38 points or 0.23% to 2,369.32, Taiwan Weighted dropped 70.67 points or 0.7% to 10,057.48, and Straits Times was down by 6.12 points or 0.19% to 3,251.40.
On the flip side, Nikkei 225 gained 20.59 points or 0.1% to 19,919.34, FTSE Bursa Malaysia KLCI increased 5.85 points or 0.33% to 1,790.29, and Jakarta Composite was up by 28.02 points or 0.49% to 5,735.66.