Asian shares are trading mixed after U.S. stocks edged down from record highs and as market focus turned to expectations for the Federal Reserve’s first interest rate cut of the year. Benchmarks rose in Wednesday morning trading in Tokyo and Hong Kong, while falling in Sydney and Seoul, and being little changed in Shanghai. In Japan, the Finance Ministry reported the nation's exports to the U.S. dropped 13.8% in August compared to the same month the previous year, marking the fifth straight month of declines, as auto exports declined amid President Donald Trump’s tariffs. Shares fell on Wall Street.