Asian Stock Market: Trades mixed amid cautious tone, Aussie GDP beats estimates

• Asian stocks trade mixed on Wednesday on concerns of global growth recovery.
• US Dollar Index remains under pressure near three-week low, still stays in higher trajectory.
• The Australian economy advanced 0.7% on a quarterly basis, the weakest expansion in the last four quarters.

Most of the Asia-pacific stocks trade lower on Wednesday while Wall Street ended the August series with gain for the seventh consecutive month.

Investors turn cautious after dismal Chinese economic data, which raises concerns about China’s slowing economic growth and regulatory changes. 

MSCI’s broadest index of Asia-pacific shares outside Japan slipped 0.40%, falling from a three-week high a day before.

The Shanghai Composite Index gained 0.86%, a day before China reported that factory activity grew at a slower pace, while the service sector slumped to contraction.

Japan’s Nikkei 225 gained 0.89% on the optimism that Japanese companies capital expenditure rose in the Q2, for the first time since the pandemic began.

Hong Kong’s Hang Seng Index gained 0.7%%, South  Korea’s Kospi traded up 0.2%.

The ASX 200 shed 0.3% while Taiwan fell 0.20%.
    
The US Dollar Index (DXY) trades near 93.00 with 0.12% gains.

Oil prices remain stable near $69.00 ahead of OPEC+ meeting to decide whether to go ahead with their plan to add supply.