OVERNIGHT

Asian shares traded so-so over night with the Hsng Seng Index in Hong Kong and the Korean KOSPI up slightly at 0.3% while the Nikkei was down O.7% and Australian shares also traded slightly lower. The Shanghai Composite Index barely budged while oil traded higher with Brent reaching a high of $35.55 before settling lower just under $33.

Oil gained some traction based on a possible agreement between Russia and Saudi to cut production making the rounds, but lacking any confirmation investors remained cautious

Here's more from the WSJ: The tepid performance in Asia follows a rally in U.S. stocks on Tuesday when they reopened after a holiday Monday. The S&P 500 was up 1.7%, notching a 3.6% gain over the past two trading days, its biggest two-day rally since late August. The South Korean won reached its weakest level against the U.S. dollar since July 2010, on expectations that the Bank of Korea is drawing closer to cutting interest rates. The bank had left interest rates unchanged on Tuesday.

The won was last down 0.4% at 1,222.33 won to one U.S. dollar.

In China, authorities guided the yuan slightly weaker onshore at 6.5237 to one U.S. dollar, after letting it strengthen to its strongest level against the U.S. dollar this year earlier in the week.