Asian markets searched for direction early on Wednesday after yields on U.S. government debt rose and stocks stateside closed higher overnight. In the region, investors await the release of China inflation data later during the day.

Japan’s Nikkei 225 was flat in the morning as gains seen in automakers and financials were offset by losses seen in most major technology names. Blue chips Sony and SoftBank Group were lower by 0.12 percent and 0.8 percent, respectively.

The energy sector also traded in positive territory, with Inpex climbing 2.19 percent.

Over in Seoul, the benchmark Kospi index edged higher by 0.1 percent despite weakness in tech heavyweights. Samsung Electronics resumed its decline after falling on Tuesday on the back of a weaker-than-expected fourth-quarter profit guidance. Samsung Electronics lost 1.19 percent and SK Hynix tumbled 3.25 percent.

South Korean automakers and most manufacturing names rose slightly, while cosmetics plays saw steeper gains: Amorepacific soared 2.52 percent and Cosmax gained 4.13 percent.

Down Under, the S&P/ASX 200 was off by 0.05 percent, with gold producers among the worst-performers on the day. Gold miners Newcrest Mining and Kingsgate Consolidated were down 1.9 percent and 6.33 percent, respectively. Those losses were offset by gains seen in the heavily-weighted financials sector, where Westpac rose 0.29 percent and ANZ traded flat.

U.S. stocks closed higher on Tuesday in the lead up to earnings season kicking off later this week, with investors positive about the upcoming release of fourth-quarter results. Major U.S. banks, including J.P. Morgan, are set to report on Friday.

The Dow Jones industrial average rose 0.41 percent, or 102.8 points, to close at 25,385.8.

The yield on the 10-year U.S. Treasury note rose to a nine-month high overnight after the Bank of Japan on Tuesday moved to slightly reduce its long-dated Japanese government bond purchases.

“Although the decrease [from the BOJ] was modest, it broadens the number of global policymakers stepping away from the markets,” Kathy Lien, managing director of FX strategy at BK Asset Management, said in a note.

The 10-year yield stood at 2.55 percent at the end of Tuesday.

In currencies, the Japanese yen gave up some overnight gains after outperforming other G10 currencies after the BOJ’s Tuesday move. The yen traded at 112.72 yen to the dollar at 8:10 a.m. HK/SIN, after rising as high as 112.35 in the last session.

Meanwhile, the dollar was firmer against a basket of currencies. The dollar index traded at 92.559, building on gains after falling to its lowest levels in three months last week.

On the commodities front, oil prices extended gains seen on Tuesday. U.S. crude futures rose 0.68 percent to trade at $63.39 after touching a three-year high in the session. Brent crude, which had yet to trade, rose 1.5 percent to settle at $68.82.

Toyota announced in a Tuesday statement that it would recall around 601,300 more vehicles in the U.S. due to safety issues related to Takata air bag inflators. The affected air bags have already been associated with at least 20 deaths, Reuters said. Toyota shares were higher by 0.95 percent in early trade.

Meanwhile, dealings in shares of Glencore on the Hong Kong market are set to cease on Wednesday after the miner announced last year it would delist from the Hong Kong Exchange. In a statement last October, Glencore said its Hong Kong-listed shares accounted for 0.3 percent of its total issued share capital. The delisting is expected to be effective Jan. 31.

The economic calendar for Wednesday is fairly top-heavy (all times in HK/SIN):

• 9:00 a.m.: Philippines November trade data
• 9:30 a.m.: China December Consumer Price Index and Producer Price Index