Asian Equities Lower on Global Lead

Stock markets in Asia opened lower on Wednesday, tracking declines in their global peers, and as traders awaited a slew of economic data from China.

Overnight, Wall Street shares finished mildly lower, clawing back some of the sharp morning declines as investors found some relief from a slight recovery in the bond market. The Nasdaq Composite settled down 0.4 percent, while the Dow Jones Industrial Average and S&P 500 shed 0.2 and 0.3 percent, respectively.

Meanwhile, attention will be on a slew of Chinese economic data due at 1330 SIN/HK. According to economists polled by Reuters, retail sales may grow 10.5 percent on-year in April, following March’s 10.2 percent increase, while year-to-date fixed asset investment is expected to hold steady at 13.5 percent.