Asian markets are exhibiting mixed trend in the early deals on Wednesday after comments by US Federal Reserve Chair Janet Yellen boosted expectations of an interest rate hike in December. The market perceived Yellen's comments to be hawkish. Investors are also cautious as they await details of US President Donald Trump's tax reform plans, expected to be unveiled later in the day. Japanese stocks fell to more than one-week lows as ex-dividend share price adjustments dented high yielders such as automakers, offsetting gains in tech firms which tracked strength in their US counterparts. Among the other Asian markets, South Korea, Indonesia and Malaysia are also lower. Bucking the trend, Singapore, Shanghai, Hong Kong and Taiwan are higher.
Shanghai Composite added 1.1 points or 0.03% to 3,344.68, Taiwan Weighted gained 76.6 points or 0.75% to 10,333.62, Hang Seng rose 122.25 points or 0.44% to 27,635.26, and Straits Times was up by 21.32 points or 0.66% to 3,233.36.
On the flip side, Nikkei 225 dropped 73.57 points or 0.36% to 20,256.62, Jakarta Composite slipped 2.55 points or 0.04% to 5,861.41, FTSE Bursa Malaysia KLCI dipped 1.84 points or 0.1% to 1,763.75, and KOSPI Index was down by 0.61 points or 0.03% to 2,373.71.