China's Shanghai Composite index rise 0.29%

Asian stocks turned in a mixed performance on Wednesday as traders awaited key U.S. CPI data due later in the day that could influence the Federal Reserve's interest -rate decision next week.

Currently, markets are pricing in an 85 percent chance of a quarter-point cut. Investors also braced for China's two-day Central Economic Work Conference that is expected to map out policies for next year.

The Japanese yen recovered from a recent slump against the U.S. dollar after data showed inflation in Japan's corporate goods prices accelerated to the fastest pace in 16 months, keeping the Bank of Japan under pressure to raise interest rates again.

 

Gold steadied near a two-week high in Asian trade and oil prices ticked higher amid heightened geopolitical tensions.

China's Shanghai Composite index rose 0.29 percent to 3,432.49 after President Xi Jinping said on Tuesday that Beijing is fully confident in achieving its economic growth target this year.

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