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Investing.com-- Asian stock markets were mixed on Wednesday, with Japan and South Korea leading gains while other regional markets remained subdued, as investors weighed rising expectations of a U.S. Federal Reserve rate cut next week.

Australian equities were largely unchanged after the country’s economy posted its strongest annual growth in two years in the third quarter, but quarterly growth fell short of expectations.

Wall Street indexes ended modestly higher overnight, with the tech sector leading gains, while futures tied to them edged higher in Asian trading on Wednesday.

Japan, S. Korea shares rise tracking Wall St gains

Japan’s Nikkei 225 jumped 1.6%, while South Korea’s KOSPI added 1.3%.

Investors have sharply increased bets on a December rate cut by the Fed, citing slowing inflation and weaker economic signals. According to the CME FedWatch Tool, the probability of a 25‑basis-point cut has surged above 85%, up from below 40% a week ago.

However, market participants remain cautious, noting mixed signals from Fed policymakers that leave the timing and magnitude of any action uncertain.

Traders are closely monitoring upcoming U.S. data releases, including the ADP employment report and the Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation gauge.

Back in Asia, Singapore’s Straits Times Index edged 0.3% higher, while India’s Nifty 50 fell 0.4%.

Australia Q3 GDP rises 2.1% y/y

In China, the blue chip Shanghai Shenzhen CSI 300 and the Shanghai Composite index were largely muted. Hong Kong’s Hang Seng slipped over 1%.

Equities dipped after a private survey showed services-sector growth slowed to a five-month low in November, with the services PMI falling to 52.1 from 52.6. The slowdown reflected weaker new orders and continued job contractions, even as export activity showed modest improvement.

Australia’s S&P/ASX 200 was largely unchanged, following the release of third-quarter GDP data. The economy grew 0.4 % quarter-on-quarter, below forecasts of 0.7 %, though annual growth reached 2.1 %, the fastest in two years.

Slower quarterly growth reflected inventory drag, while household consumption and business investment remained firm. The relatively strong added to uncertainty about near-term monetary easing by the Reserve Bank of Australia.

Investing.com-- U.S. stock futures were little changed on Tuesday evening after Wall Street ended modestly higher, as growing confidence in a Federal Reserve rate cut and a rebound in Bitcoin helped steady sentiment.

S&P 500 Futures inched up 0.1% to 6,849.0 points, while gained 0.1% to 25,639.75 points by 21:05 ET (02:05 GMT). Dow Jones Futures traded 0.2% higher at 47,614.0 points.

Wall St gains on Fed cut bets

In the regular session, the Dow Jones Industrial Average rose 0.4%, the S&P 500 gained 0.3%, and the NASDAQ Composite climbed 0.6%.

Investors have sharply scaled up expectations that the Fed will deliver a 25-basis-point cut at its Dec. 9–10 meeting. According to the CME FedWatch Tool, the probability of a rate cut now stands at roughly 89%.

On the economic front, attention is turning to Wednesday’s release of the private-sector payrolls report from ADP Research Institute, offering an early peek at the strength of the labour market.

Later, on Friday, markets wait for the delayed publication of the Personal Consumption Expenditures Price Index (PCE), the Fed’s preferred gauge of inflation, along with personal income and spending figures.

The PCE print could heavily influence expectations about the magnitude and timing of rate cuts.

Meanwhile, risk assets got a boost from a rebound in cryptocurrency markets. Bitcoin climbed back above the mid-$90,000 range after sharp losses earlier in the week, giving a lift to crypto-linked stocks and improving overall risk appetite among investors.

The rebound in crypto and tech names helped underpin broader gains on Wall Street.

Boeing jumps on forecast; Marvell to buy Celestial AI

Boeing Co (NYSE:BA) shares jumped 10% after the company guided free cash flow to turn positive for 2026, and the aircraft maker also won a contract from the U.S. Navy worth $104.4 million to repair displays in aircraft.

In post-market trading, Marvell Technology (NASDAQ:MRVL) surged 10% after the chipmaker said it will acquire semiconductor startup Celestial AI in a $3.25 billion deal, marking one of its biggest pushes yet into next-generation optical connectivity for AI data centres.

Additionally, Dell Technologies Inc (NYSE:DELL) (NYSE:DELL) stock rose Tuesday after President Donald Trump praised the Dell family following their massive philanthropic donation.

Investing.com -- Medline Inc. is preparing to start formal marketing for its initial public offering as soon as Monday, Bloomberg reported Tuesday, in what is expected to be the largest US listing of 2025.

The medical supply company, backed by Blackstone Inc., Carlyle Group Inc. and Hellman & Friedman, aims to secure approximately $2 billion in commitments from cornerstone investors before officially opening orders, according to Bloomberg, citing people familiar with the matter. Medline had previously set a target of raising about $5 billion in total from the IPO.

Based in Northfield, Illinois, Medline manufactures and distributes medical supplies including gloves, gowns and exam tables used by hospitals and doctors. The company filed publicly for its listing in October during the government shutdown, which limited the US Securities and Exchange Commission’s ability to declare registrations effective.

The plans are still under discussion and details could change, with Medline potentially deciding to further delay the IPO, according to the sources, who asked not to be identified.

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