SYDNEY, NSW, Australia - Continued uncertainty over energy supplies and prices, a typhoon in Hong Kong, and the future of China Evergrande, cast a shadow over Asian stock markets on Wednesday.
A No 8 storm warning for Typhoon Kompasu plunged Hong Kong into shutdown amid heavy rain and gusty winds, causing the cancellation of trading on Hong Kong stock markets, the closing of schools, and the suspension of government services.
The upcoming reporting season has also put investors on edge.
"This week, inflation is overriding pretty much everything else, because that pushes Fed expectations one way or the other and that's just so dominant," Stefan Hofer, chief investment strategist for LGT in the Asia Pacific told Reuters Wednesday.
"This earnings season is also critical because in the previous one, earnings especially in the U.S., were very strong, partly because of the base effect. The third quarter maybe a little more standard," he said.
In Japan, the Nikkei 225 shed 90.32 points or 0.32 percent to 28,140.28.
The Australian All Ordinaries dipped 3.70 points or 0.05 percent to 7,571.90.
China's Shanghai Composite finished 14.83 points or 0.42 percent ahead at 3,561.76.
The U.S. dollar was easier during the Asian trading zone Wednesday. The euro picked up to 1.1551 by the Sydney close. The British pound rose a fraction to 1.3612. The Japanese yen firmed to 113.46. The Swiss franc edged up to 0.9292.
The Canadian dollar was a tad higher at 1.2451/ The New Zealand dollar was unmoved at 0.6937.
The Australian, going against the trend, drifted down a touch to 0.7335.
Overnight on Wall Street, the Dow Jones industrials lost 117.72 points or 0.34 percent to close at 34,378.34.
The Nasdaq Composite fell 20.28 points or 0.14 percent to 14,465.92.
The Standard and Poor's 500 gave up 10.54 points or 0.24 percent to finish at 4,350.65.