Asia markets could reflect continued disappointment going into Thursday as overseas investors digest moves by the U.S. Federal Reserve and a major market prepares for a holiday weekend.

U.S. stocks ended mixed , after the Fed held out the prospect of more quantitative easing but disappointed some investors when it declined to take any immediate action on a weakening economic picture.

“I think that U.S. equities markets have sold off from the highs earlier in the day so to the extent that sentiment was kind of reflected in Asia, there’s probably a little bit of risk off going into that session," said Robert Sinche, head of global currency strategy at RBS.

Indeed trading in China is already thinning. Markets there will be closed Friday due to the Dragon Boat Festival.

The Shanghai Composite Index gave up 0.34 percent to finish at 2,292.88.8 on Wednesday, continuing a losing streak from the day earlier. Turnover in Shanghai was the lowest since Feb. 1. Japan's Nikkei 225 index closed up 1.1 percent to 8,752.30. Hong Kong's Hang Seng added 0.5 percent to 19,518.85 and South Korea's Kospi gained 0.7 percent to 1,904.12.

Market Factors Wednesday:

Trading was thin in China as investors started heading to the sidelines ahead of the long weekend. There was also caution in the markets as investors awaited the U.S. Fed announcement.

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