Markets in Asia were mostly up on Wednesday as U.S. futures point to a lower opening.

Dow Jones Industrial Average mini futures were recently 0.10% and S&P 500 mini futures lost 0.10%.

A weakening yen led Japanese markets higher. In Tokyo, the Nikkei was up 0.97% at 16,887.40 and the Topix gained 1.27% to 1,329.54.

Strength in the U.S. dollar, which is being supported by expectations that the Federal Reserve will lift interest rates, has seen the yen fall 0.27% against the dollar to ¥103.24.

In Hong Kong, the Hang Seng was down 0.16%.

On mainland China, the CSI 300 was up 0.48% 3,327.79.

In South Korea, the Kospi lost 0.25% to 2,034.65.

Shares in Hyundai Merchant Marine gained more than 25% in Seoul after South Korea's financial regulator said the company could buy assets from Hanjin Shipping.

The S&P/ASX 200 fell 0.83% to 5,433.04.

Slater & Gordon fell 11.58% today, after falling more 15% yesterday. The Sydney-listed law firm yesterday reported an annual net loss of A$1.02 billion ($765.42 million) due to the mainly impairment charge associated with the acquisition of a British insurance claims processor it bought last year.

Also in Sydney, BHP Billiton (BHP) - Get Report lost 3.22%. The mining company's CEO Andrew Mackenzie will reportedly not receive a bonus for the 2015/2016 fiscal year after recording a record lose earlier. Sky News says that shareholders have been briefed on the change to executives' pay, which will also see other C-suite members' discretionary pay cut.

Oil prices were recently down. West Texas Intermediate fell 0.19% to $46.26 and Brent Crude was down 0.23% to $48.26 a barrel.