FXstreet.com (Barcelona) - Asian stock markets have been mixed on Wednesday, with the prevalence of red numbers despite modest gains in Wall Street on the previous day on the outlook of a serious recession ahead which damped commodity and technology shares.

Tokyo's Nikkei Index has closed the session 0.66% down, while Australian All Ordinaries index fell 0.85%, and South Korea's Kospi index dropped 1.9%, and Hong Kong's Hang Seng Index rose 0.25%. On the positive side, China's Shangai Composite rose 3.1%.

Wall Street closed the session slightly up on Tuesday despite having dropped close to levels of 2003 through the session, to recover and bounce back to positive territory towards the end of the day. Dow Jones closed 1.8% up, while The Standard & Poor's 500 index rose 1%, and The Nasdaq technological index remained practically unchanged.

Treasury Secretary Henry Paulson, Fed Chairman Ben Bernanke and FDIC Chairman Sheila Bair had affirmed that the bailout passed four weeks ago had contributed to stabilize credit markets,. Stocks rose to the session high to drop afterwards with news about homebuilders confidence in the US housing market slumping to a record low. According to a report by the National Association of Home Builders, their confidence index has dropped to a level of 9 points in a scale from 1 to 100.