Asian Markets Mixed Amid Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the mixed cues from global markets overnight, with traders cautiously assessing recent economic data and remaining optimistic about the US Fed further slowing the pace of interest rate hikes next week following recent comments from Fed officials. Some traders are also indulging in booking profits after recent gains. Asian Markets closed mostly higher on Tuesday.

The Australian stock market is trading slightly lower on Wednesday after being marginally in the green earlier, snapping a five-session winning streak, with the benchmark S&P/ASX 200 staying below the 7,500 level, following the mostly negative cues from global markets overnight, with weakness across most sectors after domestic inflation figures came in higher than expected.

The benchmark S&P/ASX 200 Index is losing 9.90 points or 0.13 percent to 7,480.50, after hitting a low of 7453.10 and a high of 7,507.30 earlier. The broader All Ordinaries Index is down 9.90 points or 0.13 percent to 7,700.60. Australian stocks ended modestly higher on Tuesday.