Asian markets are down for the first time in four days, with the strength in the yen weighing on Japanese shares.
The dollar dropped as bets of a Federal Reserve rate hike in 2016 remained below 50 percent. On Tuesday, U.S. stocks closed near a record, with the S&P 500 Index closing flat around the 18,530 mark.
Crude oil fell below $43 a barrel, after data from the American Petroleum Institute showed that U.S. stockpiles increased 2.09 million barrels last week. Meanwhile the Energy Information Administration raised its U.S. oil output estimate for 2017, but predicted that global consumption will outstrip supply next year.
Gold extended its rally from its lowest price this month, as investors returned to safe havens.
The SGX Nifty is trading little changed around the 8,700 mark, indicating a muted start for Indian equities. Investors will react to poor June quarter earnings from government owned banks like Indian Overseas Bank, UCO Bank and United Bank of India.
Some of the companies that report earnings today include Mahindra and Mahindra Ltd., and Motherson Sumi Systems Ltd.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
