Asian stocks weak as investors weigh US data, Brexit plans

Hong Kong - Asian stocks were listless on Wednesday as investors weighed strong US economic reports against uncertainty as Britain readies a formal request to leave the European Union.

KEEPING SCORE: Tokyo's benchmark Nikkei 225 index was less than 0.1% lower at 19 194.20 while South Korea's Kospi was flat at 2 163.54.

Hong Kong's Hang Seng added 0.2% to 24 396.26 and the Shanghai Composite index edged up 0.1% to 3 257.66. Australia's S&P/ASX 200 rose 0.9% to 5 876.00.

CONFIDENCE RISING: The US economy, the world's biggest, continues to strengthen, according to two data reports.

The Conference Board's consumer confidence index rose in March to its highest level since 2000, in an upbeat sign of consumers' future expectations.

Also, US home prices in January jumped at the fastest pace in nearly 2½ years because the tightening supply of houses for sale sparked bidding wars in many cities.

QUOTEWORTHY: "While it's possible that US consumer confidence may be tempered a little next month following the government's failure to achieve its healthcare reforms, the latest figure indicates a high base for confidence which should help support consumption and US economic growth over coming months," said Ric Spooner, chief analyst at CMC Markets.

BREXIT: British Prime Minister Theresa May's plan on Wednesday to trigger Article 50 of the European Union's key treaty has sent the pound lower.

The request will trigger two years of negotiations before the U.K can exit the EU, a move that's divided Britain and leaves 3 million EU citizens living in the country worried about their future.

WALL STREET: The Dow Jones industrial average rose 0.7% to end at 20 701.50, turning in its longest slide in more than five years.

The Standard & Poor's 500 index added 0.7% to 2 358.57. The Nasdaq composite index gained 0.6% to 5 875.14.

CURRENCIES. The dollar strengthened to ¥111.16 from ¥110.57. The euro rose to $1.0815 from $1.0810. The pound fell to $1.2413 from $1.2447.

ENERGY: Benchmark US crude oil futures rose 22 cents to $48.59 a barrel in electronic trading on the New York Mercantile Exchange.

The contract rose 64 cents to close at $48.37 per barrel on Tuesday. Brent crude, used to price international oils, climbed 17 cents to $51.59 a barrel in London.