Tokyo, Japan (BBN)-Asian markets traded mixed on Wednesday, with investors remaining cautious ahead of eurozone meetings over Greece.
Finance ministers meet on Wednesday and EU leaders on Thursday, but officials are already downplaying the chance of a breakthrough in a debt deal for Greece, reports BBC.
Australian shares headed lower, despite a measure of consumer sentiment surging to its highest in 13 months.
The benchmark S&P/ASX 200 was down 0.5% to 5,772.5 points.
The Melbourne Institute and Westpac Bank index of consumer sentiment rose by a seasonally adjusted 8% in February, the largest monthly increase since September 2011.
The recent cut in interest rates as well as falling fuel prices boosted consumer confidence.
With company earnings in focus, shares of Commonwealth Bank of Australia fell 0.9% despite announcing a record profit for the first half of the current financial year ending in June. Japanese markets are closed for a public holiday.
Chinese shares opened higher, following Wall Street's lead, where shares rallied.
The benchmark Shanghai Composite Index was up 0.4% to 3,154.03, while Hong Kong's Hang Seng index traded flat at 24,523.82.
Meanwhile, South Korea's Kospi index was higher by 0.5% at 1,945.52, after data showed import prices falling at the fastest pace since 1999, largely on lower energy costs.
Import prices were 19.2% lower in January than a year ago, the steepest drop March 1999's 24.6% fall.
BBN/AKG/AD-11Feb15-11:40am (BST)