BANGKOK—Stocks were mostly lower in Asia on Wednesday after new U.S. data showed inflation is still running high, putting a spotlight on what action the Federal Reserve will take as it holds its last meeting of the year. Tokyo’s Nikkei 225 index edged 0.1 percent higher to 28,459.72 and the Kospi in Seoul was nearly unchanged at 2,988.71. In Sydney, the S&P/ASX 200 gave up 0.7 percent to 7,327.10. Hong Kong’s Hang Seng index slipped 0.4 percent to 23,548.10, while the Shanghai Composite index lost 0.2 percent to 3,655.92. Shares fell in India but rose in Taiwan. The yield on the 10-year Treasury fell to 1.42 percent from 1.44 percent late Tuesday. China reported its retail sales slowed in November, rising 3.9 percent from a year earlier compared with a 4.9 percent increase in October. Industrial production picked up slightly, growing 3.8 percent from a year earlier compared with October’s …