Asian markets mainly trend higher as Japanese yen takes a tumble

SYDNEY, NSW, Australia - Stocks in Asia were generally higher on Wednesday, but equity markets in Hong Kong and mainland China lagged the region. The U.S. dollar had a firmer tone, particularly against the yen.

"Markets are pricing in rate hikes in June from the UK, U.S., Sweden, Australia, and Canada," Societe Generale analyst Kit Juckes told Reuters Wednesday.

"The more the markets focus on the inflation