Asian markets settled mostly lower on Wednesday, with Hong Kong markets leading regional losses after Alibaba Group Holding is calling off an initial public offering for its Cainiao logistics arm in a surprise move. Chinese markets declined deeply, even after governor of the People's Bank of China had said Chinese property market is showing some positive signs and the impact on the financial system from volatility in the sector has been limited. Meanwhile, investors are cautiously awaiting US personal consumption expenditure (PCE) inflation data as well as Fed Chair Jerome Powell's speech due later in the week to gauge the potential timing of monetary easing. Although, Japanese shares gained while the yen hit a 34-year low against the dollar after Bank of Japan board member Naoki Tamura said short-term interest rates would remain near zero for the time being, even as the Japanese central bank ending negative interest rates last week.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 2,993.14 | -38.34 | -1.28 |
| Hang Seng | 16,392.84 | -225.48 | -1.38 |
| Jakarta Composite | 7,310.09 | -55.57 | -0.76 |
| KLSE Composite | 1,530.60 | -7.82 | -0.51 |
| Nikkei 225 | 40,762.73 | 364.70 | 0.89 |
| Straits Times | 3,251.71 | 18.38 | 0.57 |
| KOSPI Composite | 2,755.11 | -1.98 | -0.07 |
| Taiwan Weighted | 20,200.12 | 73.63 | 0.36 |
