Ripples Advisory, Asia shares lag record Wall Street, cautious of Fed plans

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Asian shares turned mixed on Wednesday as investors everywhere awaited clarity on the Federal Reserve's future path for U.S. policy after a likely rate rise later in the day.

Economic data out of China showed retail sales and industrial output topped forecasts in May, but a miss in urban investment reinforced views the world's second-largest economy will soon start to lose some momentum as lending costs rise and the property market cools.

The market reaction was tepid with Shanghai stocks easing 0.5 percent and South Korea off 0.2 percent.