Asian Stocks Mixed Ahead of US Inflation Data Amid Bond Yield Retreat

Asian stocks were mixed on Wednesday as investors remained cautious ahead of key U.S. inflation data, while a slight retreat in global bond yields and softer oil prices provided some support to risk assets.

The moves followed a subdued Wall Street session overnight amid elevated Treasury yields. U.S. stock futures were also mixed in Asian trading.

Japan's Nikkei 225 rose 1.5%, while the broader Topix index gained 1%. The benchmark was lifted by gains in chip-related stocks and SoftBank Group shares jumping about 6%.

However, Hong Kong's Hang Seng Index edged down 0.3%, and South Korea's Kospi fell 0.4%.