Asian stocks were off to a muted start after U.S. equities pared most of their gains as a rally in technology shares petered out.

Japan was little changed as the ruling party’s new leader, who is set to become the next prime minister, is seen by investors as maintaining stability. Australia rose and South Korea dipped. U.S. futures climbed. The Nasdaq 100 notched its third straight day of losses after earlier climbing about 1%. Dip buyers helped push the S&P 500 higher.

India’s SGX Nifty 50 Index futures fell 0.3% to 17,688.50, while MSCI Asia Pacific Index shed 0.1%. The NSE Nifty 50 Index fell 0.2% on Wednesday to 17,711.30.

The dollar traded near the highest since November as investors opted for safe havens. The deadline for the U.S. government to keep running and avoid a default is looming amid wrangling in Washington. Treasury yields dipped though remained around the highest since June.

Federal Reserve Chair Jerome Powell and his counterparts in Japan, Europe and the U.K. voiced cautious optimism that supply-chain disruptions lifting inflation rates around the world would ultimately prove temporary.

In China, investors continue to monitor the situation at China Evergrande Group. On Wednesday, the central bank injected liquidity into the financial system for a ninth day in the longest run since December to ensure there’s sufficient liquidity ahead of a week-long holiday.

Elsewhere, oil was little changed after declining and Bitcoin traded above $41,000.

Back home, Hindustan Aeronautics, J&K Bank, National Aluminium are among companies holding their annual shareholders’ meeting. Foreign investors sold net Rs 1,880 crore of stocks on Tuesday, according to NSDL website.