From Investing.com:

Most Asian stocks fell on Wednesday as Federal Reserve officials downplayed expectations for early interest rate cuts, while economic growth figures from China largely underwhelmed markets. But Japanese shares traded positive, with local indexes briefly notching new 34-year highs on hopes that monetary conditions in the country will remain ultra-loose.

Chinese stocks slid as Q4 GDP missed expectations, with China’s Shanghai and Shenzhen indexes falling between 0.7% to 1%, as the country’s fourth-quarter GDP grew slightly less than expected at 5.2%.

The reading bodes poorly for broader Asian markets, given China’s dominance as a trading partner for the region. Australia’s ASX 200 fell 0.2%, while Straits Times index led losses in Southeast Asia with a 0.4% decline.

Regional technology stocks were the worst performers for the day, with losses in tech heavyweights dragging South Korea’s KOSPI and Hong Kong’s Hang Seng down between 2% and 3%.

Japanese stocks were the only bourses trading positive on Wednesday, as optimism over easy monetary conditions largely offset headwinds from the U.S. and China. The Nikkei rose 0.4%, trimming a bulk of its gains after briefly crossing the 36,000 point mark and hitting a new 34-year high earlier on Wednesday.



Read more: Asian stocks hit by rate-cut uncertainty, middling China GDP; Nikkei rises By Investing.com