Asian stock markets are trading lower on Wednesday while the dollar and commodities rallied as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focussed on an improving outlook for global growth.

Japan's benchmark index, Nikkei 225 declined 5.52 points or 0.03 percent to trade at 19,197.35. China's benchmark index, Shanghai Composite declined 6.13 points or 0.19 percent to trade at 3,246.82.

South Korea's KOSPI fell 0.46 points or 0.02 percent to trade at 2,162.85. Taiwan's TAIEX fell 26.23 points or 0.27 percent to trade at 9,850.22.

On the other hand, Hong Kong's Hang Seng gained 45.67 points or 0.19 percent to trade at 24,391.54. Singapore's Straits Times went up 18.09 points or 0.57 percent to trade at 3,175.91.