Chinese shares were flat with a downward bias as the country's central bank kept rates steady.
The Shanghai Composite Index, the main gauge of Chinese stocks, ticked down 0.2% to 4,162.18. The Shenzhen Component Index barely changed to 15,569.98 from 15,569.91.
The People's Bank of China left benchmark rates unchanged in May for the 12th straight month, in line with forecasts. The one-year loan prime rate remained at 3%, while the five-year LPR stayed at 3.5%.
Meanwhile, the meeting between Chinese President Xi Jinping and Russian leader Vladimir Putin could substantially raise Russia's energy exports to China. The Kremlin expects both leaders to hold "serious" and "very detailed" discussions on the long-delayed Power of Siberia 2 gas pipeline.
The pipeline is set to carry 50 billion cubic meters to China from Russian gas fields that once served Europe.
Also, Putin has invited Xi to visit Russia in 2027, saying that the ties between their two countries are at "an unprecedented level."
In company news, Hybio Pharmaceutical (SHE:300199) signed a framework agreement for the sale of peptide active pharmaceutical ingredients with an undisclosed counterparty. Shares of the pharmaceutical company were down 2% Wednesday.