Tokyo, Japan (BBN)-Markets in Asia were mixed in early trade on Wednesday despite a positive lead from Wall Street after US Federal Reserve chair Janet Yellen said the Fed should “proceed cautiously” before raising interest rates.
Japan was in negative territory following disappointing official industrial output numbers, reports BBC.
The figures showed output falling 6.2 per cent in February from a month earlier.
The data marks the biggest drop since the 2011 tsunami.
The Nikkei 225 was down 0.25 per cent to 17,013.3 points in early trade.
Also hurting investor sentiment in Japan was a stronger yen against the dollar, which fell after Yellen’s comments.
Michael Gapen, chief US economist at Barclays, said her comments “tilt expectations for policy rate hikes in a decidedly dovish direction”.
Elsewhere, stocks in Australia were higher after touching a near one-month low on Tuesday.
Sydney’s S&P/ASX 200 was up 0.3 per cent to 5,019.4 points in mid-morning trade.
The Shanghai Composite was up 1.55 per cent to 2,965.27 and Hong Kong’s Hang Seng was up 1.5 per cent to 20,666.60.
South Korea’s Kospi index was also in positive territory, up 0.53 per cent to 2,005.84 points.