Asian markets were mixed at midday, Wednesday, as investors remained cautious following a downgrade on Spain’s credit ranking.

Moody’s Investors Service said late Tuesday it downgraded Spain’s government bond ratings to A1 from Aa2. At 12.30pm, the benchmarkFTSE Bursa Malaysia KL Composite Index (FBM KLCI) was up 5.16 points or 0.36% to 1,445.10.

As for regional markets, Tokyo’s Nikkei 225 was up 0.19% to 8,758.48 while Hong Kong’s Hang Seng Index gained 1.25% to 18,302.83.

Shanghai’s A index was up 0.06% to 2,385.03 while Taiwan’s Taiex Index slipped 0.45% to 7,326.29.

Seoul’s Kospi Index fell 0.08% to 1,837.34, with Singapore’s Straits Times Index gaining 0.25% to 2,731.56.

Nymex crude oil lost 8 cents to US$88.26 per barrel. Spot gold gained US$2.40 to US$1,660.25 per ounce. The ringgit was quoted at 3.103 to the US dollar.–The Star