The S&P/ASX registered the steepest midday decline at 0.98% Reuters

Investors are giving out mixed signals in today's Asian markets as the Tokyo Stock Exchange and Hong Kong Stock exchange are closed for public holidays.

A lack of clarity from the Nikkei and Hang Seng makes trading patterns for the Chinese, Australian, and Indian markets difficult to ascertain.

The Singaporean market has registered the strongest gain with the Straits Times Index increasing by 0.74% while the Australian S&P/ASX 200 reported the strongest decline of 0.98%.

Ratings agency Moody's revealed on Tuesday (May 2) that an escalation of tensions in the Korean Peninsula has not significantly impacted financial markets in the region in the past.

However, it still noted that the current brinkmanship between Pyongyang and Washington might negatively impact South Korea's fiscal and economic strength.

The following index quotes were logged on 7:14am BST.

China: Shanghai Composite- Down by 0.41% to 3,130.716

Ratings agency Fitch revealed that the Chinese yuan has lost its momentum as an influential global currency over the past two years. Restrictions on capital outflows from the nation and concerns over depreciation have greatly contributed to the decline.

The International Monetary Fund had added the Chinese Yuan to its basket of Special Drawing Rights on September 2016.

Australia: S&P/ASX- Down by 0.98% to 5,892.301

The Australian Industry Group reported that the economy's services sector grew at a faster rate during April. The Performance of Service Index increased to 53 in April from 51.7 in March.

Singapore: Straits Times Index- Up by 0.74% to 3,234.94

India: Sensex- Flat at 29,921.45

Fitch Ratings affirmed India's 'BBB-' grade for the nation's long term local and foreign currency ratings. Outlook has also been confirmed as stable.