Asian stocks were mixed Wednesday following Wall Street’s mostly positive performance ahead of key U.S. inflation data that could influence the pace of market-boosting rate cuts by the Federal Reserve.

Asian shares traded mixed Tuesday, echoing Wall Street trading, where gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies. Japan's benchmark Nikkei 225 slipped 1.

Asian markets are mostly lower after shares slumped on Wall Street despite better-than-expected reports on the U.S. jobs market and business activity