Markets expect a 25-bps cut after separate set of data showed the U.S. core consumer price index and producer price index rose slightly from a month earlier in August.
Gold edged up in Asian trading to reach record levels as the dollar weakened, heading into next week's FOMC meeting. Oil extended gains for a third day running as storm Francine disrupted Gulf of Mexico production.
Chinese markets ended lower on growth concerns after FICC Investor CN Wire highlighted growing concerns about the economy.
The benchmark Shanghai Composite index dropped 0.48 percent to 2,704.09.
Hong Kong's Hang Seng index rose 0.75 percent to 17,369.09, lifted by technology stocks on Fed rate cut speculation.
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