SINGAPORE — Stocks in Asia-Pacific slipped in Wednesday morning trade as coronavirus infections continue to rise stateside.

In Japan, the Nikkei 225 shed 0.53% while the Topix index declined 0.74%. South Korea’s Kospi also traded 0.39% lower.

Shares in Australia were lower, as the S&P/ASX 200 dipped fractionally.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.19% lower.

On the economic data front, Australia’s consumer price index rose 1.6% in the September quarter as compared to the previous quarter, according to data released Wednesday by the Australian Bureau of Statistics (ABS). The rise in the September quarter followed a “record fall” of 1.9% in the June 2020 quarter, according to the ABS.

Following that data release, the Australian dollar traded at $0.7116, above levels below $0.704 seen last week.

Investor sentiment on Wednesday will likely be impacted by the rising number of Covid-19 cases in the U.S.

“Markets remain in a cautious mood given rising hospitalisation rates may require tougher restrictions to contain the spread of COVID-19 and ensure hospitals do not become overwhelmed,” Tapas Strickland, director of economics at National Australia Bank, wrote in a note.

Overnight on Wall Street, the Dow Jones Industrial Average slipped 222.19 points to close at 27,463.19. The S&P 500 slipped 0.3% to finish its trading day at 3,390.68. The Nasdaq Composite bucked the negative trend as it gained 0.6% to close at 11,431.35.

The U.S. dollar index, which tracks the greenback against a basket of its peers, sat at 93.139 after seeing levels around 92.8 earlier in the week.

The Japanese yen traded at 104.44 per dollar, having strengthened from levels around 105 against the greenback this week.