(fxcue news) - Asian shares ended mixed on Wednesday as tariff worries persisted, and a private survey showed China's services activity expanded at a slower pace in January. Disappointing earnings updates from Google parent Alphabet and AMD also kept investors on tenterhooks. China's central bank set a stronger-than expected fixing rate for the yuan against the U.S. dollar, contrary to expectations that the People's Bank of China will set a lower rate for the yuan this year to mitigate the impact of new U.S. tariffs on Chinese exporters. The Japanese yen jumped as upbeat wage and services PMI data raised expectations for more BoJ rate hikes this year. Gold prices hit a new record high amid rising U.S.-China trade tensions and ahead of key U.S. economic data, including the payrolls report due on Friday, which could shed more light on the health of the U.S. economy. Oil extended losses as OPEC+ plans to gradually increase oil output from April added uncertainty to global energy markets. China's Shanghai Composite index fell 0.65 percent to 3,229.49 on escalating trade tensions, with the U.S. Postal Service (USPS) announcing a temporary suspension of parcel shipments from China and Hong Kong. Hong Kong's Hang Seng index tumbled 0.93 percent to 20,597.09, with real estate and tech stocks leading losses. Japanese stocks ended on a flat note as export-linked stocks advanced despite a stronger yen. The Nikkei average finished marginally higher at 38,831,48 after a choppy session. The broader Topix index settled 0.27 percent higher at 2,745.51. Media technology conglomerate SoftBank Group advanced 1.5 percent. Toyota rallied 3.1 percent after raising its full year profit outlook. Nintendo gained 2.9 percent after announcing it has no plans to abandon its original Nintendo Switch console. Honda Motor surged 8.2 percent while Nissan slumped 4.9 percent after reports that the management integration talks between the companies could be terminated. Seoul shares closed sharply higher, with the Kospi average rising 1.11 percent to 2,509.27. Traders shrugged off data that showed South Korea's consumer inflation quickened to a six-month high in January. Australian markets advanced, led by mining and gold-linked stocks after China's measured response to U.S. tariffs. The benchmark S&P/ASX 200 rose 0.51 percent to 8,416.90 while the broader All Ordinaries index ended 0.58 percent higher at 8,683.40. Wealth manager Insignia Financial soared 6.9 percent as Brookfield Asset Management matched rival bids in the high stakes battle for the company. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index dropped 0.47 percent to 12,844.59 after data showed the country's jobless rate rose to a four-year high at the end of last year. U.S. stocks rose overnight after last-minute negotiations resulted in tariff reprieves on Trump's levies against Canada and Mexico. Data showed U.S. job openings fell by the most in 14 months in December, but steady hiring and low layoffs suggested the labor market is constantly evolving. Another report revealed that new orders for U.S.-manufactured goods dropped in December due to a sharp decline in civilian aircraft bookings. The tech-heavy Nasdaq Composite surged 1.4 percent, the S&P 500 added 0.7 percent and the Dow edged up by 0.3 percent.