Asian stocks ended mostly lower on Wednesday, failing to hold onto early gains after a three-day sell-off as investors awaited Nvidia earnings, the release of minutes from the Federal Open Market Committee meeting held on October 28-, and the delayed September jobs report.

The dollar index managed to hold ground amid fading hopes of Federal Reserve interest-rate cuts.

Gold ticked higher as risk-off mood in financial markets helped buoy safe-haven demand for the precious metal.

Oil prices fell on oversupply worries after industry data showed higher crude inventories in the United States.

China's Shanghai Composite index edged up by 0.18 percent to 3,946.74 as China successfully raised 4 billion euros in a bond sale that attracted record demand.

Hong Kong's Hang Seng index dipped 0.38 percent to 25,830.65, slipping for a fourth day running amid lingering concerns about artificial intelligence valuations and a deepening dispute between China and Japan.

Xiaomi plunged 4.8 percent after it warned of higher smartphone prices to due to surging memory chip costs.

Japanese markets fell for a fourth day as investors awaited Nvidia earnings for fresh insights into whether AI spending is delivering meaningful returns. Concerns over a sharp rise in Japanese government bond yields also weighed on markets.

The Nikkei average dropped 0.34 percent to 48,537.70 while the broader Topix index settled 0.17 percent lower at 3,245.58.

Among the top losers, silicon wafer manufacturer Sumco Corp slumped 6.3 percent and IC substrate giant Ibiden tumbled 4.1 percent.

Seoul stocks ended lower for a second consecutive session after a selloff in the world's biggest tech firms dragged global stocks to a one-month low.


The Kospi average fell 0.61 percent to 3,929.51, led by losses in major tech shares amid selling by foreign investors. Samsung Electronics declined 1.3 percent and SK Hynix gave up 1.4 percent.

Australian markets ended slightly lower after a range-bound session due to shifting expectations about future interest rate changes by the Reserve Bank of Australia.

The benchmark S&P/ASX 200 slid 0.25 percent to 8,447.90, with banks pacing the declines. The broader All Ordinaries index ended down 0.19 percent at 8,721.40.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index closed 0.12 percent lower at 13,326.90 as new data signaled a continued cooling in the rental market.

U.S. stocks ended deep in the red overnight to reach their lowest levels in a month due to worries about an AI bubble, dwindling rate cut hopes and investor anxiety about the economic outlook.

Home improvement retailer Home Depot forecast a steeper than expected drop in annual profit, raising concerns about the housing market and the health of the American consumer.

In economic releases, data showed the number of Americans claiming jobless benefits reached a two-month high in mid-October for the week concluding 18 October.

New orders for U.S. manufactured goods rebounded in August, though business spending on equipment was not as strong as initially thought.

The Dow dipped 1.1 percent and the tech-heavy Nasdaq Composite declined 1.2 percent while the S&P 500 dropped 0.8 percent to extend losses for a fourth straight session, marking its longest slide since August.

The consumer price index logged an annual growth of 3.6 percent in October, slower than the 3.8 percent rise in September. However, inflation was slightly faster than economists' forecast of 3.5 percent.

On a monthly basis, the CPI moved up 0.4 percent, in line with expectations, after remaining flat in September.

Core inflation that excludes prices of energy, food, alcohol and tobacco, edged down to 3.4 percent from 3.5 percent in September.

The annual increase in goods prices weakened to 2.6 percent from 2.9 percent. Likewise, services inflation softened to 4.5 percent from 4.7 percent.

Chancellor Rachel Reeves said the fall in inflation is "welcome". But she said more needs to be done to bring it down.

The chancellor is set to deliver the Autumn Budget on November 26. Reeves said the budget next week will deliver on the public's priorities to cut NHS waiting lists, cut national debt and lower the cost of living.

Earlier this month, the Bank of England had maintained its key interest rate at 4.00 percent in a split vote. The central bank observed that the inflation has peaked in September and signaled that the interest rate will follow a gradual downward path if disinflation process continues.

The latest data is a tad hawkish for the BoE, ING economist James Smith said. However, the bank is still likely to cut rates in December, the economist added.


With weak GDP figures for the third quarter, softening labor market combined with the likelihood of further fiscal consolidation measures at the Budget, data should give the BoE's policymakers confidence that inflation risks are diminishing, Confederation of British Industry Lead Economist Ben Jones said.

"If this trend continues, the case for an interest rate cut in December looks increasingly compelling," Jones added.

Another report from the ONS showed that factory gate prices accelerated in October on higher food, motor vehicle and other transport equipment prices. Factory gate prices were up 3.6 percent from the last year, following a 3.5 percent rise in September.

Meanwhile, input price inflation eased to 0.5 percent in October from 0.7 percent in the previous month. Prices were expected to climb again by 0.7 percent.

Monthly output prices showed no movement in October, which was unchanged from September. At the same time, input prices slid 0.3 percent after September's 0.1 percent drop.

In September, average UK house prices grew 2.6 percent from the last year, the ONS said in a separate report. This followed a 3.1 percent increase in August.