Asia markets were pressured after U.S. markets sold off on uncertainty over the Trump administration's ability to follow through on policy.
Asian shares closed mixed as a rally in the dollar was halted on U.S. political turbulence while markets digested Fed minutes.
Beijing-based telecom China Unicom will raise $11.7 billion from 14 sources that include a mix of state and private firms.
Fourteen sources, including Tencent, Baidu and CRRC, are investing in China Unicom. CNBC's Sophia Yan reports.
Most Asian shares closed higher on Wednesday as investors digested earnings releases from regional corporates and resurgence in the dollar.
Apple pulled several VPN apps from its App Store in China, which it said did not meet new regulation requirements.
Investors are closely watching China Unicom for what potential strategic investments could say about the future of the Chinese economy.
China's government is tightening its reins on internet control by baring the usage of VPN, says report.
Chinese tech giants Alibaba Group Holdings and Tencent Holdings will be among new investors pouring a total of around $10 billion into mobile carrier China Unicom.
Market fundamentals for telcos are looking better this year than in the past two years, says Sanford C. Bernstein senior research analyst, Chris Lane.
The chairman of China Telecom is being investigated for alleged disciplinary violation, the ruling Communist Party's anti-corruption watchdog said.
The "Fast Money" traders give their final trades of the day.
Chris Lane, senior research analyst at Bernstein Research, explains why China Unicom could see a "sharp slowdown in" its mobile service revenue in the final quarter of 2014.
China Mobile's quarterly revenue fell year-on-year for the first time as it struggles in the face of rising competition from popular messaging apps.
Consumers in China will not be able to buy the new iPhone 6 as part of the first wave of buyers around the world this month.
Despite having about one-fifth the worldwide total of Internet users, China is notoriously tough for U.S. venture capital firms.
China has overtaken Europe by building hundreds of thousands of masts to carry superfast 4G mobile signals. The FT reports.
China's domestic 4G smartphone market is set for 1,500 percent growth in shipments this year, according to IHS Technology.
China Mobile finally starts selling iPhones on its massive network, with focus on how big a slice Apple can carve out in the booming Chinese market.
A deal to sell iPhones on China Mobile's vast network is a "watershed moment," Apple CEO Tim Cook told CNBC on Wednesday.