Asian markets end mostly lower on Wednesday

Asian markets settled mostly lower on Wednesday ahead of the much-awaited US consumer inflation data due out later in the day. Further, dip in Wall Street overnight with worries about accelerating US inflation and possibly earlier rate hikes too adding pressure on market sentiments. Positive data on US job openings also added to concerns about inflation. Seoul shares declined even as data showing that unemployment in South Korea dropped to an eight-month low in April and the number of people employed rose at the sharpest pace in nearly seven years as the economic recovery continues. Japanese shares fell sharply on concerns over accelerating daily corona-virus infection rates in the Japanese country. Although, Chinese shares ended higher after a quarterly report by China’s central bank downplayed inflationary concerns, while at the same time the United States government has agreed to remove Xiaomi from a Trump administration blacklist that would have barred Americans from investing in the Chinese smartphone maker also supporting Chinese stock markets.