Indian shares were marginally higher on Wednesday as investors reacted to data showing an unexpected increase in U.S. producer prices and waited for the release of U.S. CPI report later in the day for clues on the Federal Reserve's next steps.

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders react to data showing producer prices in the U.S. increased by more than expected in the month of April, while they cautiously await the release of key consumer price inflation data later in the day. Asian markets closed mixed on Tuesday.

The Japanese stock market is notably higher on Wednesday, adding to the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,500 level, with gains across most sectors led by index heavyweights and technology stocks.

Indian shares are seen opening little changed on Wednesday as investors react to disappointing Bharti Airtel's quarterly results and the latest MSCI rejig that has seen the inclusion of stocks like Indus Towers, NHPC and Canara Bank in the India index.

The Thai stock market has ticked higher in three straight sessions, rising just 7 points or 0.5 percent in that span. The Stock Exchange of Thailand now sits just above the 1,375-point plateau and it may inch higher again on Wednesday.

Bitcoin fell 2%. Amazon shares rose 1.7%. The Australian dollar gained 0.2%. Gold increased 0.8%. Oil prices fell due to rate concerns. The US dollar eased amid rising producer prices. The Solana mCoin parody GME hit $100 million market cap. Key economic events today include US CPI, US Retail Sales, Eurozone Employment Change, Industrial Production, and Japan's GDP.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Oil is retreating but unlikely to repeat the collapses of 2020, 2014 or 2008

The Japanese yen is experiencing a significant decline against the US dollar, marking the seventh consecutive session of this trend.

Dollar recovers somewhat while US stocks’ rally stalls; PPI and Fed Chairman Powell could wake up the market later today; Mixed UK labour data complicate the BoE’s outlook

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Ethereum knocking at support’s door