Indian shares were modestly higher in early trade on Wednesday after suffering heavy losses in the previous session amid concerns that a smaller majority will see Prime Minister Modi face more difficulty in doling out reforms and infrastructure spending.

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing of global yields and on optimism that data showing weakness in the US labor market will encourage the US Fed to lower interest rates in the coming months. Asian markets closed mixed on Tuesday.

The Japanese stock market is significantly lower on Wednesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling to near the 38,500 level, with losses across most sectors led by auto makers, financial and technology stocks.

Indian shares are seen opening lower on Wednesday after voters delivered a split election in the Lok Sabha election, with Nitish Kumar's JD(U) from Bihar and N. Chandrababu Naidu's Telugu Desam Party from Andhra Pradesh holding the key to government formation.

The Thai stock market has moved lower in two straight sessions, slumping almost 15 points or 1 percent along the way. The Stock Exchange of Thailand now sits just above the 1,335-point plateau although it's likely to find traction on Wednesday.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Oil is probably setting up for a repeat of 2020 or 2014

The dollar hit a low against the euro and sterling on Tuesday as softening US economy signals raised chances of earlier Fed rate cuts.

Copper is testing the $10,500 mark, after buyers took a breather from last week’s rally that breached all-time highs of $11,000.

Monday's weaker ISM survey pushes the dollar lower. Euro/dollar rallies to a 3-month high ahead of the ECB. The BoC could announce a rate cut tomorrow; loonie may suffer. Oil tanks as bearish factors multiply

The USD/JPY pair unexpectedly declined last night due to a weakening US dollar. Currently, it is hovering around 156.33.