Asian stock markets track economic data from the region

Asian markets were mixed as investors assessed economic data from the region and uncertainty over the U.S. debt ceiling. Asia-Pacific markets were mixed as investors assessed economic data from Japan and Australia. The Quad leaders also cancelled a meeting scheduled for next week in Sydney as U.S. President Joe Biden cut short a trip to Asia to return to the U.S. for talks on the debt ceiling. Japan’s Nikkei 225 rose 0.45% in early trade, while the Topix rose 0.11%, the index advancing to its highest level since August 1990. South Korea’s Kospi was flat on Wednesday, while the Kosdaq gained 0.49%. Australia’s S&P/ASX 200 fell 0.79%, dragged by mining stocks. In mainland China, the Shanghai Composite Index was 0.3% lower and the Shenzhen Component Index was down 0.18%. The Hang Seng index in Hong Kong also fell 0.7 percent.