Asian regional markets are mixed in the last hours of trading in Australia, Singapore, and Japan as investors kept a "wait and see" attitude and bearish sentiments spilled from European and U.S. markets.

The Nikkei 225 is the best performer, up 0.3percent after Japan announced this morning that other utilities will share in the financial burden of Tokyo Electric Power Co. (TEPCO) and the nuclear situation slightly improves.

Both the Hang Seng and Kospi are 0.2 percent higher while the Shanghai Composite is 0.2 percent weaker.

Melbourne-based IG Markets said in an afternoon note to clients that the Asia-Pacific markets will take leads from Wall Street performers and on the forthcoming report on the U.S. economy due to be released this week.

"In Australia, the ASX 200 is currently 0.2 percent higher at 4907, well off its session lows of 4876. As expected, it is the materials and energy sectors that are dragging on the market," IG Markets analyst Ben Potter said.

The decline in the prices of commodities prompted by the recent move of Goldman Sachs had cut down investors' appetite on the commodities sector.

David Barrett-Lennard, institutional equities dealer at the CMC Markets said in a separate note that "a large exodus of speculative funds out of the commodity space, but in turn, demand fundamentals will override the sharp correction that occurs. The pull from the resource demand of the Japanese rebuild is yet to come."

Analysts said the markets will take a "wait and see" attitude in the coming days as the earnings report season begin.