Most Asian markets were flat on 11 November (Wednesday) after China published a mixed set of data which indicated that its growth was still in low gear. October industrial production growth numbers missed targets on top of similar performance in earlier months.

Growth declined to 5.6% last month from a year ago, slightly lower than the 5.8% gain forecast by economists in a Reuters poll. Retail data, however, was positive with sales increasing 11% from a year ago, also beating an expected 10.9% increase.

China's National Bureau of Statistics reported that the consumer price index in the world's second largest economy rose 1.3% for October. This was lower compared to September's 1.6% and lower than the expected rate of 1.5%.

A Reuters survey showcasing the confidence levels among Japanese manufacturers fell in November marking a third straight month of decline to a level unseen in about 30 months, further indicating weak Chinese demand. According to analysts at Moody's Investors Service, the most likely outlook for China is a gradual slowdown.

"Global economic growth will not support significant reductions in government debt or increases in interest rates by major central banks. As a result, authorities lack the ample fiscal and monetary policy buffers usually created at the top of the business cycle, leaving growth and global financial stability particularly vulnerable to shocks for an extended period of time," it noted.

While the Shanghai Composite index closed up 0.27% at 3,650.25, the Nikkei edged up 0.10% at 19,691.39. The Hang Seng was down 0.22% at 22,352.17, South Korea's Kospi closed up 0.03% at 1,997.27 and Australia's S&P/ASX 200 was up 0.46% at 5,122.60. India's BSE remained closed for the Diwali festival.

In commodities, oil prices gained after the recent downtrend. Brent crude was 0.53% higher at $47.44 a barrel while WTI Crude Oil was up 0.77% at $44.21 a barrel.