Asian shares traded mixed on Wednesday as a negative finish on Wall Street and a strengthening Japanese currency damped sentiment.
Overnight, U.S. stocks pulled back from recent highs, closing lower in light volume trade as investors weighed soft auto sales and looked ahead to domestic data. The blue-chip Dow Jones Industrial Average and S&P 500 closed down 0.5 percent each, while the tech-heavy Nasdaq finished down 0.6 percent at 4,979 after topping the 5,000 mark for the first time since March 2000 on Monday.
Australia’s S&P ASX 200 index nudged lower in early trade, reeling from the impact of the Reserve Bank of Australia’s decision to hold interest rates steady on Tuesday. All the big four lenders were lackluster: Commonwealth Bank of Australia, National Australia Bank and Australia & New Zealand Banking declined 0.7 percent each, while Westpac shed 0.3 percent. Big miners like Rio Tinto and Fortescue Metals lost over 3 percent each