Asia slides as market digests weak U.S. data; Nikkei up 0.15%

Forexpros - Asian stocks were mixed and falling on Wednesday as investors digested weak data out of the U.S., growing increasingly concerned that the world's largest economy remains vulnerable to further downturns.

During early Asian trading on Wednesday, Hong Kong's Hang Seng Index was up 0.01%, Australia's S&P/ASX200 was down 0.54%, while Japan’s Nikkei 225 Index was up 0.15%.

In the U.S. data emerged that home sales softened a bit while consumer confidence in the economy was waning, which sent equities dipping in Asia, a key export market to the U.S.

News out of Europe was mixed, as while Greece has yet to ink a restructuring deal with its private creditors, E.U. leaders vowed to take further steps to combat the debt crisis, including toughening up future sanctions against member nations running up deficits while ramping up assistance facilities ahead of schedule.

Yields in Portuguese bond markets spiked, offsetting good news such as better-than-expected unemployment rates out of Germany.

In Asia, a stronger yen fueled concerns that Japanese exports could suffer, especially if markets in the U.S. and Europe suffer.

In Hong Kong, the top gainers included COSCO Pacific, up 3.06%, China Overseas, up 2.56%, and Hengan International, up 1.87%.

In Australia, the top decliners included Aquarius Platinum, down 11.70%, Energy Resources of Australia, down 9.74%, and OM Holdings, down 5.26%.

European stock futures indicated a lower opening.

France's CAC 40 futures pointed to a loss of 0.02%, while Germany ’s DAX 30 futures also signaled a loss of 0.02%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.04%.

Dow Jones Industrial Average futures were down 0.02% while the S&P 500 futures were down 0.08%.

Investors will keep an eye out for eurozone inflation figures on Wednesday, while in the U.S. ADP employment numbers will serve as a precursor to Friday's official jobs report, one of the most-watched indicators in the U.S. these days.

The ISM manufacturing index and crude oil stockpiles will publish in the U.S. Wednesday as well.

Australia is set to publish new home sales figures, while the Reserve Bank of Australia is also to release data on commodity prices, a key indicator of the country’s trade balance.

New Zealand unemployment figures are due out as well.

The U.K. is to release industry data on house price inflation and manufacturing activity, while Switzerland is to release official data on retail sales and manufacturing sector growth.