(Bloomberg) — Asian shares fell Wednesday in subdued trading following a holiday for US markets. Treasury yields moved lower and major currencies moved within narrow ranges.
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Equities declined in Japan, China and Australia. Futures for the S&P 500 and Nasdaq 100 fell slightly.
Shares in Hong Kong extended their losses and the offshore yuan reversed an earlier advance after Caixin China purchasing managers’ index came in weaker than in previous month, underscoring concerns over the economic outlook. The central bank earlier maintained its support for the currency in its daily fix.
“The Chinese economy is totally on a different path right now and that is truly being reflected in their currency as well,” Charu Chanana, a strategist at Saxo Capital Markets, said on Bloomberg Television.
In Japan, Rakuten Group Inc. shares fell after news that the e-commerce…
