Investing.com - Asian stock markets were mixed in choppy trade on Wednesday, as investors remained cautious ahead of the minutes of the Federal Reserve's July meeting for further indications as to when the central bank may start to taper its USD85 billion-a-month asset purchase program.
The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of global equities.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.8%, Australia’s ASX/200 Index ended 0.4% higher, while Japan’s Nikkei 225 Index closed up 0.2%.
In Tokyo, the Nikkei swung between gains and losses in choppy as traders continued to eye movements in the yen.
USD/JPY rose to hit a session high of 97.66, moving off the previous session’s low of 96.90.
Despite the weaker yen, most exporters traded lower, with automakers Toyota and Mazda dropping 2.1% and 2.2% respectively, while Sharp fell 0.5%.
Shares in Tokyo Electric Power Company tumbled 9.3% amid growing concerns over its crippled Fukushima Daiichi nuclear plant.
Meanwhile, in Australia, the benchmark ASX/200 Index inched higher as gains in lenders outweighed losses in the mining sector.
The big four banks were higher, with National Australia Bank adding 1.8%, while ANZ Banking Group and Westpac Banking Group rose 0.6% and 0.5%. Commonwealth Banking Group advanced 1.2%.
On the downside, mining giant BHP Billiton saw shares slump 2.2% after the firm reported a 30% drop in profit for the fiscal year ended June 30 amid subdued commodity prices and slowing growth in emerging economies.
Elsewhere, in Hong Kong, the Hang Seng fell to a two-week low, as market players looked ahead to manufacturing data out of China, set for release on Thursday.
The China banking sector were among the biggest losers on the index, with China Construction Bank shares falling 1.4%, Industrial and Commercial Bank of China declining 1.3% and China Minsheng Bank slumping 1.7%.
In earnings news, oil major CNOOC saw shares rally 5% after the company reported a 7.9% increase in profit for the first half of the year, driven by increased oil and gas output.
Looking ahead, European stock market futures pointed to a mixed open, amid uncertainty over the timing of possible tapering by the Federal Reserve.
The EURO STOXX 50 futures pointed to a gain of 0.4% at the open, France’s CAC 40 futures added 0.4%, London’s FTSE 100 futures pointed to a decline of 0.1%, while Germany's DAX futures pointed to a flat open.
The U.S. was to release private sector data on new home sales later Wednesday.
The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of global equities.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.8%, Australia’s ASX/200 Index ended 0.4% higher, while Japan’s Nikkei 225 Index closed up 0.2%.
In Tokyo, the Nikkei swung between gains and losses in choppy as traders continued to eye movements in the yen.
USD/JPY rose to hit a session high of 97.66, moving off the previous session’s low of 96.90.
Despite the weaker yen, most exporters traded lower, with automakers Toyota and Mazda dropping 2.1% and 2.2% respectively, while Sharp fell 0.5%.
Shares in Tokyo Electric Power Company tumbled 9.3% amid growing concerns over its crippled Fukushima Daiichi nuclear plant.
Meanwhile, in Australia, the benchmark ASX/200 Index inched higher as gains in lenders outweighed losses in the mining sector.
The big four banks were higher, with National Australia Bank adding 1.8%, while ANZ Banking Group and Westpac Banking Group rose 0.6% and 0.5%. Commonwealth Banking Group advanced 1.2%.
On the downside, mining giant BHP Billiton saw shares slump 2.2% after the firm reported a 30% drop in profit for the fiscal year ended June 30 amid subdued commodity prices and slowing growth in emerging economies.
Elsewhere, in Hong Kong, the Hang Seng fell to a two-week low, as market players looked ahead to manufacturing data out of China, set for release on Thursday.
The China banking sector were among the biggest losers on the index, with China Construction Bank shares falling 1.4%, Industrial and Commercial Bank of China declining 1.3% and China Minsheng Bank slumping 1.7%.
In earnings news, oil major CNOOC saw shares rally 5% after the company reported a 7.9% increase in profit for the first half of the year, driven by increased oil and gas output.
Looking ahead, European stock market futures pointed to a mixed open, amid uncertainty over the timing of possible tapering by the Federal Reserve.
The EURO STOXX 50 futures pointed to a gain of 0.4% at the open, France’s CAC 40 futures added 0.4%, London’s FTSE 100 futures pointed to a decline of 0.1%, while Germany's DAX futures pointed to a flat open.
The U.S. was to release private sector data on new home sales later Wednesday.