Asia shares lag record Wall Street, cautious of Fed plans

SYDNEY (Reuters) - Asian shares turned mixed on Wednesday as investors everywhere awaited clarity on the Federal Reserve's future path for U.S. policy after a likely rate rise later in the day. Economic data out of China showed retail sales and industrial output topped forecasts in May, but a miss in urban investment reinforced views the world's second-largest economy will soon start to lose some momentum as lending costs rise and the property market cools. The market reaction was tepid with Shanghai stocks easing 0.5 percent and South Korea off 0.2 percent. Moves elsewhere were also cautious with MSCI's broadest index of Asia-Pacific shares outside Japan up a fraction and Japan's Nikkei ahead by 0.1 percent. Wall Street had been in a more confident mood overnight notching record closing peaks for all the major indices. The Dow rose 0.44 percent, while the S&P 500 gained 0.45 percent and the Nasdaq 0.73 percent. Financial Astrology Tips