Mainland shares up
China's Shanghai Composite index reversed losses to finish more than 2 percent higher late Wednesday. Earlier on, Shanghai shares lost over 1 percent after worse-than-expected inflation numbers added to concerns of cooling activity in the world's second-largest economy. The consumer price index rose 1.4 percent from the year-ago period - the lowest reading since November, 2009 - below a Reuters forecast for a 1.6 percent increase.
The wholesale sector, meanwhile, remained entrenched in a deflationary spiral – the producer price index (PPI) fell 2.7 percent on year in November, worse than the 2.4 percent decline forecast.
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Meanwhile, Hong Kong's Hang Seng index crept up 0.4 percent. Shares of China's largest nuclear power producer CGN Power took the spotlight, surging 20 percent in their trading debut. By 1500 SIN/HK, the state-controlled company's stock traded at HK$3.330, compared with its IPO price of HK$2.78, retreating from the day's high of HK$3.48.
"I'm not surprised that it's up. At the end of the day, the institutional tranche was over subscribed by 20 times and the retail tranche was over subscribed by an amazing 280 times so it's a simple supply and demand," Philippe Espinasse, author of "IPO: A Global Guide", told CNBC.