Asian markets are mixed on Wednesday, with the bigger bourses taking their cue from the US

Uncertainty about the situation in the Middle East hit US stocks. Wall Street headed south on news of the first US-led air strikes in Syria against Islamic State fighters.

Japan's Nikkei index was down 0.3% by midday trade, while the Australian market was 0.7% lower.

However, stock markets in Hong Kong and China were trading higher.

Shares of Chinese mobile phone operators were higher, on expectations of Apple's latest iPhone models being available on the mainland.

China Mobile added 0.7% while rival China Telecom gained 1.7%, on local media reports that Apple's iPhone 6 is in the final stage of review for approval.

In Australia, shares of National Australia Bank were down by 1%. According to the Reuters news agency, Australia's fourth-largest lender is weighing the sale of its insurance unit, which is valued at around $700m. The insurance business has been a drag on the bank's earnings.

On Wall Street overnight, Alibaba shares fell 3% on profit taking. But Desmond Chua from CMC markets said: "The decline may be short-lived, however, given CEO Jack Ma's refreshing take on 'customers first, employees second and shareholders last'. "

Alibaba shares started trading on the New York Stock Exchange last week at $92.70 per share - 38% jump from the issue price of $68. The share sale raised $25bn for China's e-commerce giant.

Culled from: bbc.com