Most Asian stocks slip, euro up against dollar

Asian markets mostly fell on Wednesday, while the euro edged higher against the dollar following upbeat eurozone inflation data as traders track Greece's debt reform talks ahead of a repayment deadline.

Tokyo slipped 0.34% to 20 473.51 owing to a stronger yen, while Shanghai was marginally lower, giving up 0.55 points to 4 909.98.

Sydney shed 0.93% to 5 583.60 and Seoul gave back 0.74%, falling 15.48 points to 2 063.16.
Hong Kong, however, rose 0.73% in afternoon trade.

Dealers moved out of Japanese equities for a second day after the Nikkei chalked up an impressive rally not seen since 1988, at the height of the country's stock market bubble.

Selling was fuelled by a pick-up in the yen, which on Tuesday hit its weakest level against the dollar in more than 12 years.he greenback fell with US stocks on Wednesday owing to concerns about the lack of progress in Greece's talks with its creditors on overhauling its bailout terms.

The Dow lost 0.16%, the S&P 500 dipped 0.10% and the Nasdaq shed 0.13%. On currency markets the dollar was at ¥124.06 early on Wednesday against ¥124.09 in New York but it is well down from the 12-year high ¥125.05 briefly touched in Asia on Tuesday.

The euro bought $1.1143 and ¥138.20 from $1.1152 and ¥138.39 in US trade.