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Asian shares were mostly lower Wednesday, despite a record high on Wall Street, as investors awaited a closely watched earnings report from Nvidia. Japan’s benchmark Nikkei 225 edged up 0.2% in afternoon trading to 38,352.07. Toyota stock jumped 3.7% after Japanese media reported Japan’s top automaker was going to announce a cooperative agreement on fuel cells with European automaker BMW.

Gold prices slipped on Wednesday as the dollar ticked up, while investors awaited a key U.S. inflation report due this week for more clarity on the size of a likely September rate cut. Spot gold fell 0.7% to $2,507.64 per ounce by 0531 GMT. "Market seems to be waiting for a catalyst to ignite the potential bullish breakthrough above that $2,532 level," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific.

VerSe Innovation, India's content tech unicorn that owns local language news aggregator Dailyhunt, digital newsstand platform Magzter and short-video app Josh, has acquired digital marketing firm Valueleaf Group in a cash and equity deal. Valueleaf will help VerSe to bolster its presence in the Indian digital ad space and build a significant retargeting platform, countering the likes of Google, which also backs the startup, and local contenders including InMobi. Digital ad spending in India is growing as consumption across online platforms expands in the world's most populous country.

(Bloomberg) -- Record-breaking stock selloffs in two of China’s biggest consumer companies erased more than $18 billion from the fortunes of the nation’s richest people, underscoring deepening investor concern over the health of Asia’s biggest economy.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityChina’s wealthiest person, N

US indexes rose modestly as investors remain sidelined ahead of Nvidia's earnings report on Wednesday.

(Bloomberg) -- Apparel retailer Abercrombie & Fitch Co., which has emerged as one of America’s hottest stocks over the past year, is planning a full-fledged return to Hong Kong eight years after it shut its flagship store in the city, according to people familiar.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityThe company will

(Bloomberg) -- A Chinese local government financing vehicle is selling the first floating rate corporate note seen in the domestic bond market in more than four years, even as interest rates in the country are at historically low levels.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityShanghai Lingang Economic Development (Grou

Thailand's economy isn't growing as fast as its peers.

SYDNEY (Reuters) -Australian inflation slowed to a four-month low in July as government rebates on electricity bills kicked in, but progress on tempering price gains elsewhere disappointed and led markets to pare back the chance of a near-term cut in interest rates. The consumer price index (CPI) rose at an annual pace of 3.5% in July, down from 3.8% in June, Australian Bureau of Statistics data showed on Wednesday. The figure was slightly above forecasts of 3.4%, leading markets to slightly lengthen the odds of a first easing from the Reserve Bank of Australia in November to 48.4%, from 58% before.

"The bar for Nvidia this earnings season is a lot lower than it has been in recent quarters given fundamental selling in tech," Goldman Sachs said.