Asia-Pacific markets fall as Australia reports higher-than-expected inflation

Asia-Pacific markets fell on Wednesday, as investors assessed Australia's July inflation numbers, which came in higher than expected.

Australia's CPI rose 3.5% year on year, slightly above the 3.4% expected by economists polled by Reuters and compared to 3.8% in June. The latest CPI figure is the lowest since March.

Minutes of the Reserve Bank of Australia's last meeting revealed that the central bank had considered raising interest rates as it strives to tame inflation.

Australia's S&P/ASX 200 was 0.7% down after the CPI release.

Japan's Nikkei 225 fell 0.14%, while the broad-based Topix fell marginally.

South Korea's Kospi slipped 0.51%, and small-cap Kosdaq slipped 0.08%.

Hong Kong's Hang Seng index and mainland China's CSI 300 lost 0.11% and 0.03%, respectively.

Chinese online retailer JD.com announced a $5 billion buyback late Tuesday, prompting a 2.24% jump in its U.S.-listed shares, while the firm's Hong Kong listed shares inched up 0.98%.

Overnight in the U.S., all three major indexes finished higher as investors looked toward tech giant Nvidia's earnings report due Wednesday, with the Dow Jones Industrial Average inching up 0.02% to end at another record close of 41,250.5.

The S&P 500 and the tech heavy Nasdaq Composite crept up 0.2% to end at 17,754.82.

—CNBC's Lisa Kailai Han and Brian Evans contributed to this report.